Mukesh Ambani’s Reliance may bring Elon Musk's Tesla to India? Talks ‘at initial stage’
The report claimed that Tesla has committed $2 billion to its upcoming plans in India and has been looking at multiple locations.
Tesla might be looking for a local partner to set up its operations in India, a report claimed. The Hindu Business Line reported citing people in the know that Tesla is in talks with Reliance Industries for a possible joint venture to build the manufacturing facility in India.
What report claimed on Tesla-Reliance relationship?
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“Talks are at initial stages and have been ongoing for over a month,” a person aware of the development said as per the report. The move does not imply Reliance' entry into the automobile space but it is only aimed at build capacities for electric vehicles in India.
“While the role of RIL hasn’t been crystalised yet, it is expected that the Indian conglomerate may play a significant hand in establishing the manufacturing facility and the allied ecosystem for Tesla in India,” another source said as per the report.
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What are Tesla's plans for India?
Tesla has committed $2 billion to its upcoming plans in India and has been looking at multiple locations, including Gujarat and Maharashtra, for setting up the plant, the report claimed. Maharashtra could emerge as the preferred location as “Tesla plans to use the facility for domestic and export purposes, and hence, it may prefer a location suitable for port facilities", it added.
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This comes after Tesla CEO Elon Musk said, “India is now the most populous country in the world, based on population. India should have electric cars just like every other country has electric cars. It’s a natural progression to provide Tesla electric vehicles in India."
Tesla officials to visit India?
Senior officials of Tesla are expected to visit India to finalise the plant location in a month or so and finalised the joint venture with Reliance, the report added.
