Elon Musk's Father's Statement in Support of Tesla's Production in India
New Delhi just got a bit electric with the talk of a potential Tesla manufacturing plant! Speaking to media, Errol Musk, ol' man to Elon, the Tesla and SpaceX CEO, spilled the beans that he has no doubts about India getting its very own Tesla factory.
In the heart of India's capital, Errol Musk, a 79-year-old South African business tycoon and current visitor, told IANS that PM Narendra Modi and Elon Musk would figure something out that works for both Tesla and India. While he emphasized these words as a private individual, computer says go, pardner!
"India's a crucial playground," Errol said, and he ain't kiddin'! Expectations are runnin' high with India aiming for a 30% electric vehicle (EV) adoption rate in passenger vehicles, 80% in the two-wheeler and three-wheeler segments, and a massive 70% in the commercial vehicle segment by 2030.
But will Tesla go all-in and build a factory here? Errol thought so, but if we're to believe Union Heavy Industries Minister H D Kumaraswamy, it isn't happening anytime soon. According to the bigwig, Mercedes Benz, Skoda-Volkswagen (VW), Hyundai, and Kia have shown more enthusiasm for setting up shop here, with Tesla merely interested in showrooms.
And that's the skinny on the Telsa plant in India. We'll keep you in the loop, partner! You can bet your shiny, electric horse that we will.
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Sources: 1. IANS, 2023. Errol Musk: No doubt there will be Tesla manufacturing plant in India
Enrichment Data:
Overview:
While Errol Musk is confident that a Tesla manufacturing plant will be established in India, the company has expressed little interest in traditional manufacturing at this time. Instead, Tesla is considering setting up a Completely Knocked Down (CKD) assembly plant in Satara, Maharashtra, which involves importing parts and assembling locally to bypass high import duties and tap into India's new EV policy [1]. This strategy would potentially allow Tesla to enter the Indian market more gradually, minimizing operational risks.
[Source:][1] Times of India, 2023. Why Tesla Won't Build a Full-Scale Plant in India
- Despite Errol Musk's optimism, Tesla might opt for a Completely Knocked Down (CKD) assembly plant instead of a manufacturing facility in India to avoid high import duties and leverage the country's new electric vehicle policy.
- As financial and technological advancements in India's automotive sector progress, general news outlets closely follow updates on potential investments from big players like Tesla, showcasing India's growing presence in the global technological landscape.
