NG Missile Vessels
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NEW DELHI, Sept 13 (Reuters) - Tesla Inc (TSLA.O) plans to source components worth $1.7-$1.9 billion from India this year, the commerce minister said on Wednesday, amid plans by the electric vehicle maker to set up a factory in the country.
Reuters reported last month that Tesla's senior executives met the minister with an interest in building a factory in India that would produce a low-cost electric vehicle (EV) priced at $24,000, around 25% cheaper than Tesla's current entry-level model, for both the Indian market and export.
"Tesla last year already bought $1 billion worth of components from India... this year their target is $1.7-$1.9 billion," Commerce Minister Piyush Goyal said at an auto conference.
"I am convinced that this (EVs) is the future. It is something we must try to attract."
www.reuters.com
Reuters reported last month that Tesla's senior executives met the minister with an interest in building a factory in India that would produce a low-cost electric vehicle (EV) priced at $24,000, around 25% cheaper than Tesla's current entry-level model, for both the Indian market and export.
"Tesla last year already bought $1 billion worth of components from India... this year their target is $1.7-$1.9 billion," Commerce Minister Piyush Goyal said at an auto conference.
"I am convinced that this (EVs) is the future. It is something we must try to attract."
India to draft new policy in push for EV investment, minister says
India will come up with new policy to attract electric vehicle (EV) manufacturers and encourage greater investment in the sector, the commerce minister said on Wednesday.
