India’s ambition of complete electrification of vehicles by 2030 appears to be headed on the right track.
Taiwanese tech giant Foxconn on Wednesday became the latest among a growing number of firms who have set their sights on India’s electric vehicles (EVs) market, which could be worth $206 billion according to a CEEW-CEF study if it successfully meets its above target.
Earlier this year, Tesla announced its India foray, registering itself as “Tesla India Motors and Energy Private Ltd” with the Registrar of Companies at its Bengaluru branch.
While Tesla is yet to announce any further details on the location of its factory and sale of its vehicles, it has urged the Union government to reduce import taxes on EVs.
