Elon Musk's Tesla Looks To Illuminate India With Powerwall Technology

This story was first published on the Benzinga India portal.

Tesla Inc. TSLA, under the leadership of Elon Musk, is expanding its innovation footprint into India, with a focus that goes beyond electric vehicles (EVs). The company aims to significantly enhance India's battery storage infrastructure. Advanced talks are underway for the establishment of a Tesla EV factory in India, with plans to manufacture a reasonably priced car, equivalent to roughly $27,000.

According to a Reuters report, Tesla's strategy includes introducing its "Powerwall" technology into the Indian market. This advanced system, designed to store power generated from solar panels or the grid, serves as a backup energy supply during nighttime or power outages.

However, Tesla's pursuit of incentives to establish a battery storage factory in India has been met with hesitation from Indian officials due to their unavailability. Despite this, a potential breakthrough could be in the works, as the government contemplates creating a balanced business model that may extend subsidies to consumers of such revolutionary products.

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Both Tesla and the Indian government maintain a keen interest in the initiative. This effort offers a glimpse into Tesla's broader strategy in India, which aims to address the diverse needs of both residential and industrial sectors with its cutting-edge battery storage systems.

India, currently wrestling with peak-time power shortages and heavily dependent on coal-based power, is striving to significantly boost its non-fossil fuel power capacity to 500 GW by 2030.

Tesla’s Powerwall, a sleek, meter-high unit, could be a critical solution in this scenario. If Tesla can adjust its pricing to meet market demands, it could unlock a high-demand sector, especially with government backing.

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