Key Points
Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year, three people aware of the company's plans told Reuters, as it moves ahead with a possible entry into the world's third-largest car market...
A team from Tesla is expected to visit India later this month to look at sites for a local car manufacturing plant that would require an investment of about $2 billion, said two of the three people, who declined to be named because the plans are not public yet...
India last month slashed the import tax rate on certain electric vehicles if their makers invest at least $500 million in the country and start production there within three years..
Tesla's India entry plan also includes investment in a charging network, which will come on top of the $2 billion earmarked for the plant, and sourcing more components locally, said one of the three sources...
Tesla is looking at the southern state of Tamil Nadu, Maharashtra in the west, and Modi's home state of Gujarat for its factory, which it expects to build in two years, two of the sources said.. India's EV market, small but growing, is dominated by domestic carmaker Tata Motors..
