The electric vehicle manufacturing business Tesla, based in the United States, has just signed a contract for office space in Pune, India, which is for a period of five years. This looks to be an indicator that Tesla is pushing forward with its intentions to establish a plant in India.
Source : Wikimedia Commons
According to a story published in a renowned financial daily called The Economic Times, Tesla has rented an office in the Panchshil Business Park located in the Viman Nagar neighborhood of Pune for a period of five years, with the option to extend the lease for an additional five years. This seems to represent a long-term plan for the rapidly expanding Indian market.
This new development comes at the same time as executives of the firm headed by Elon Musk have been conducting negotiations with senior officials of the Indian government about plans to build up a plant in the nation to manufacture electric vehicles.
According to a report by Reuters, executives from Tesla have been conducting negotiations with Indian officials on their investment plans to construct a new low-cost $24,000 (approximately Rs 19.86 lakh) electric vehicle. These discussions have been taking place in India.
According to sources that were quoted by Reuters, the conversations proceeded over the course of the last week, during which time Tesla discussed minute aspects of its ambitions to get entry to India’s rapidly expanding electric vehicle market. Modi personally tracked developments.
After some time had passed, a representative for India’s foreign ministry tweeted that Prime Minister Modi had extended an invitation to Elon Musk to “explore opportunities in India for investments in electric mobility and rapidly expanding commercial space sector.”
Musk also stated in the previous month that Tesla will likely make a decision on the site of a new factory before the end of this year, and he alluded to India as “an interesting place for a new plant” in his comments.
The developments are taking place at the same time that Tesla has been looking to establish a manufacturing base outside of China. This is because the Communist giant has been further alienated by US sanctions and has come under fire for concealing the truth about the devastating Covid-19 outbreak that killed millions of people all over the world.
