New Delhi: Elon Musk’s own EV manufacturing company Tesla, plans to buy auto parts worth 1.7 to 1.9 billion dollars (about ₹ 14.10 thousand crore-₹ 15.76 thousand crore) from India this year. This was stated by Union Minister Piyush Goyal while addressing the 63rd Annual General Meeting of Automobile Components Manufacturers of India, held in New Delhi on Wednesday.
He also said that Tesla has purchased products worth $1 billion (roughly Rs 8,000 crore) in 2022 from the country’s automobile spare parts makers. The future of the country’s auto mobile industry lies in electric vehicles. Therefore, he added, global EV manufacturers are welcome. Elon Musk met Prime Minister Narendra Modi in June. Following this, high-level meetings were held between Tesla officials and the Union Commerce and Industry Minister. At this time Tesla had expressed its intention to invest significantly in India.
Tesla is currently trying to find a market for electric vehicles in India. The company has also expressed interest in setting up a manufacturing plant in the country to bring EV vehicles to the Indian market at affordable prices. Discussions between Tesla officials and the central government are in progress in this regard. Company executives visited the country in May to discuss setting up a manufacturing unit for EV vehicles and batteries.