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Tesla to double its imports of components from India – Minister of Commerce

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Tesla Inc.’s automotive facility is pictured in Costa Mesa, California, U.S., November 1, 2023. REUTERS/Mike Blake/File Photo Acquire License Rights

BENGALURU, Nov 14 (Reuters) – U.S. electric car maker Tesla Inc (TSLA.O) plans to double the number of components it imports from India, Indian Commerce Minister Piyush Goyal said in a statement on Tuesday. post published on social media platform

“Proud to see the growing importance of Indian auto component suppliers in the Tesla electric vehicle supply chain. They are on track to double their component imports from India,” Goyal said on X, previously called Twitter, after visiting Tesla’s manufacturing plant in Fremont. , California.

He, however, was unable to meet Tesla chief Elon Musk during his visit to the factory, Goyal added.

He said in September that Tesla aims to source components worth between $1.7 billion and $1.9 billion from India this year, after purchasing $1 billion worth of components last year .

The minister’s visit to the United States was supposed to include discussions with Musk on Tesla’s plans to set up a factory in India, manufacture a car there worth $24,000, source more components and establish charging infrastructure across the country, Reuters reported last week.

Reporting by Ashna Teresa Britto in Bangalore; Editing by Rashmi Aich and Nivedita Bhattacharjee

Our Standards: The Thomson Reuters Trust Principles.

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