According to three sources familiar with Tesla's plans, the company has initiated the production of right-hand drive vehicles at its German plant, aiming to export them to India later this year. This strategic move signals Tesla's potential entry into the world's third-largest car market.
Two of the sources mentioned that a Tesla team is expected to visit India later this month to evaluate potential sites for a local manufacturing plant dedicated to car production.
The investment required for this venture is estimated to be around $2 billion. However, these plans have not been made public yet, and hence, the sources requested anonymity.
Last month, India reduced the import tax rate for certain electric vehicles, provided their manufacturers invest at least $500 million in the country and commence production within three years.
This development is seen as a favorable outcome for Tesla, which had been advocating for lower taxes for several months. Despite facing opposition from local carmakers, this move by India aligns with Tesla's objectives and aspirations in the Indian market.
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