After a long wait, finally it seems American electric vehicle (EV) maker Tesla will enter India next year. India’s Prime Minister’s Office has told relevant departments to fast-track Tesla’s proposed investment in India by January 2024, ET has reported.
Tesla’s entry will put a stamp of maturity on India’s car market, the third biggest in the world after China and the US. Outside the US, Tesla has plants in Germany and China. As the Western countries struggle with slowing economies impacting demand and Tesla faces strong local competition from EV makers in China. selling its electric cars in India is an attractive prospect for the American company. Initially, it will sell fully built-up cars imported into India.
