Tesla Representatives, Indian Minister Reportedly Held Discreet Discussions On Setting Up EV Factory

This story was first published on the Benzinga India portal.

Piyush Goyal, India’s commerce minister, reportedly engaged in discussions with senior Tesla Inc TSLA executives in a discreet meeting to explore the carmaker’s vision of setting up a manufacturing plant in the country.

What Happened? The private meeting between Tesla’s executives and Goyal took place at a New Delhi hotel, with at least one other government official present, sources told Reuters.

This marks the most high-profile interaction since Tesla CEO Elon Musk met Prime Minister Narendra Modi in June. At the time, Musk had said he was eager to make substantial investments in India.

Tesla has previously expressed a keen interest in building a factory dedicated to producing a low-cost electric vehicle (EV) priced at $24,000 (INR 2 million) for both the domestic Indian market and potential export opportunities.

Tesla executives had previously met officials from the Invest India agency during their visit to the country, signaling the carmaker’s commitment to exploring opportunities in the Indian market.

The world’s biggest electric carmaker is looking to expand into India as it seeks to branch out beyond China, one of the company’s biggest markets.

The EV maker was previously reported to have signed an agreement for office space in Pune, signaling the company’s commitment to its India plans.

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