Infrastructure
Tesla In Discussions With Reliance Group To Build Electric Vehicles
Tesla car (Representative Image)
US electric car maker Tesla Motors is reportedly in talks with Reliance Industries Limited (RIL) for a possible joint venture to build the manufacturing facility for electric vehicles in the country.
“Talks are at initial stages and have been ongoing for over a month,” reported the businessline, citing a person aware of the development.
“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,” the report adds.
Tesla's decision follows the world’s biggest electric vehicles (EV) maker's plan to send a team to scout locations in India for a proposed $2-3 billion electric car factory later this month.
The company's reported push towards making EVs in India comes after New Delhi last month released a new policy lowering duty for a limited number of EV imports for companies that commit to making them in the country within three years.
The policy is being seen as targeted at facilitating Tesla’s entry into India as the carmaker had been lobbying for tariff cuts as a precondition to investing in manufacturing operations in the country.
Indeed, Reliance Industries is not currently involved in the automotive sector. However, in 2023, RIL, in collaboration with Ashok Leyland, launched India's first hydrogen internal combustion engine-powered heavy-duty truck.
It's anticipated that senior Tesla officials will travel to the country within the next month to determine the plant's location and solidify the joint venture with RIL.
Sources suggest that since the discussions with RIL are not exclusive, Tesla might seek an alternative domestic partner if the ongoing negotiations fail to materialise.
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