Tesla considering building battery storage factory in India: Report

Amidst the ongoing pressure to enter the country, Tesla is now considering manufacturing and selling battery storage systems in India. The Elon Musk-led company has reportedly drawn up plans and submitted a proposal seeking incentives to build a factory. The development comes amid talks to set up a new electric vehicle factory in India.

The company held a series of meetings in New Delhi and proposed supporting the country’s battery storage capabilities with its “PowerWall” system, according to a Reuters report. The publication quoted unnamed sources as saying that Indian officials have rejected several demands for incentives. Set up a battery storage factory.

However, there is no assurance that the plan will be successful, with officials continuing to review the car company’s proposal.

The development comes just days after Union Minister Piyush Goyal said the company was planning to buy components worth $1.7-$1.9 billion from India. According to the lawmaker, Tesla has purchased components worth $1 billion from Indian companies last year alone.

CEO Elon Musk also met Prime Minister Narendra Modi in the US in early June. The billionaire businessman had said that Tesla will make significant investments in the country in the coming times.

After a year-long standoff, the two organizations resumed talks in May. Musk had previously criticized India’s high import taxes and its electric-vehicle policies. Meanwhile, New Delhi urged Tesla not to sell cars in the country that are made in China.

As talks continue, a Reuters report in August indicated that India was working on a new electric vehicle policy that would cut import taxes for automakers that commit to some local manufacturing. Under the new policy, automakers may be able to import fully built EVs into India at a tax as low as 15%.

(with inputs from agencies)

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