By the end of this year, Tesla plans to reveal the location of its new facility. Tesla Inc. CEO Elon Musk stated at a gathering that the business would make a choice in the upcoming months. Musk responded, "absolutely," when asked if he finds India to be "interesting." His excitement for India and recent talks between Tesla and the Indian government suggest a new EV.
Rajeev Chandrasekhar, India's IT minister, has made comments that are consistent with Musk's most recent declaration. According to the minister, Tesla is serious about creating a manufacturing facility in the nation, according to a report from Reuters.
Tesla previously disclosed plans to build a gigafactory in Mexico to increase its capacity for global production, but the company is now concentrating on picking another advantageous location for future expansion.
Tesla representatives met with Indian government representatives earlier this month. Elon Musk, on the other hand, has been outspoken against India's high import taxes, referring to them as some of the highest in the world. Currently, all vehicles costing more than $40,000 are subject to a 100% import duty. India charges a 40% import fee on vehicles that cost less than $40,000.
Establishing a new facility within Indian territory will end the long-running impasse between Tesla and the government there. Government officials, including transport minister Nitin Gadkari, have urged Tesla to locate here in order to take advantage of "Make in India" programmes.
Elon Musk spoke about Tesla's factory plans as well as the possibility of establishing a university that would hold a sizable percentage of his voting rights on the Tesla board. Musk stated his readiness to name a successor to lead the company in the event of unforeseen circumstances, though he did not disclose any further specifics. He made it clear that he had already found a suitable replacement and had given the board his proposal.
When James Murdoch, a Tesla board director, testified in court regarding Musk's identification of a prospective successor in response to investor concerns about his Twitter activity last year, the idea of a successor attracted attention. Since then, Musk has replaced the CEO of Twitter, indicating his intention to concentrate more on Tesla.
The confirmation of a new production location by the end of this year, maybe in India, could have substantial effects on the company's growth and the electric car market as a whole as Tesla continues to grow its global presence and pursue new manufacturing options