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  • Voltaire Staff

Tesla looking for local partner to set up EV business in India



Tesla is reportedly exploring the possibility of collaborating with a local partner to establish its presence in India.


According to a report in Business Line, discussions are underway between Tesla and Reliance Industries regarding a potential joint venture to construct a manufacturing facility in the country.


Tesla has purportedly pledged $2 billion towards its forthcoming endeavours in India. The company is evaluating various sites, including Gujarat and Maharashtra, as potential locations for the plant.


"Talks are at initial stages and have been ongoing for over a month,” a source reported while also informing that this action should not be interpreted as Reliance Industries Limited (RIL) venturing into the automotive sector. Instead, RIL's aim in the partnership is to enhance electric vehicle capabilities within India," the news website cited a source as saying.


"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,” confirmed another source," the person said.



In 2023, Reliance Industries Limited (RIL) collaborated with Ashok Leyland to introduce India's inaugural hydrogen internal combustion engine-powered heavy-duty truck.


According to the source, Maharashtra could emerge as the preferred location. "Tesla plans to use the facility for domestic and export purposes, and hence, it may prefer a location suitable for port facilities."


During an X (formerly Twitter) Spaces session alongside Nicolai Tangen, CEO of Norges Bank Investment Management, Elon Musk, CEO of Tesla, remarked, "India is now the most populous country globally. India should embrace electric cars like any other nation. It's a logical step to introduce Tesla electric vehicles in India."


Musk is likely to visit India within a month to finalise the location for the plant.


Sources suggest that since the discussions with RIL are not exclusive, Tesla might explore other domestic partners if the ongoing talks do not progress.

 

 Image Courtesy: Unsplash

 

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