Tesla eyes investment in India: Plans to set up electric vehicle factory and export hub


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Led by billionaire Elon Musk , Tesla is also exploring the possibility of utilizing India as a manufacturing hub to export cars to nations in the Indo-Pacific region, according to the same report. According to the report, the vehicles from Tesla will have a starting price of 2 million rupees ($24,400.66). Currently, the country imposes import taxes as high as 100 percent on electric vehicles, which hindered Tesla's entry into the Indian market. India expressed a strong interest in Tesla manufacturing vehicles within the country, but the company initially aimed to export its cars to India to assess the demand. However, Reuters' requests for comments from the Commerce and Industry Ministry, Tesla, and Musk went unanswered at the time of reporting.