News Brief
Piyush Goyal's Tesla Hub Visit Sparks Buzz As Tesla Eyes Doubling Auto Component Imports From India
Piyush Goyal exploring Tesla's advanced manufacturing facility in Fremont, California.
During his ongoing four-day visit to the United States, Commerce and Industry Minister Piyush Goyal explored Tesla's advanced manufacturing facility in Fremont, California.
Goyal commended the presence of skilled Indian professionals in senior positions at Tesla, expressing pride in their contributions to the company's transformative journey in the mobility sector.
Taking to Elon Musk's social networking platform, X, Goyal shared insights, noting the growing importance of Indian auto component suppliers in Tesla's EV supply chain.
As reported by NDTV, Goyal also revealed Tesla's intention to double its imports of components from India.
This visit gains significance amid reports of India's potential consideration of customs duty concessions for Tesla, likely linked to the establishment of a manufacturing plant in the country.
Goyal highlighted Tesla's plan to source around $1.9 billion worth of components from India in the current year, compared to $1 billion in 2022.
The government's production-linked incentives scheme for advanced chemistry cell battery storage and the auto, auto-components, and drone industries are expected to play a pivotal role in supporting the growth of the EV sector in India.
Goyal also reiterated the government's commitment to providing equal opportunities without differentiation or preferences.
Elon Musk, in August 2021, had expressed Tesla's interest in establishing a manufacturing unit in India, contingent on the success of imported vehicles in the country.
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