Tesla doubles component imports from India – Trade Minister – Portal

Tesla Inc. electric vehicle factory in California

Tesla Inc.’s vehicle facility is pictured in Costa Mesa, California, USA on November 1, 2023. Portal/Mike Blake/File Photo Acquire License Rights

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

“I am proud to see the growing importance of auto component suppliers from India in the Tesla electric vehicle supply chain. The company is in the process of doubling its component imports from India,” Goyal posted on X, formerly called Twitter, after a visit to Tesla’s manufacturing facility in Fremont, California.

However, he was not able to meet Tesla boss Elon Musk during his visit to the factory, Goyal added.

He said in September that Tesla planned to source $1.7 billion to $1.9 billion worth of components from India this year after buying $1 billion worth of components last year.

The minister’s visit to the US was expected to include discussions with Musk about Tesla’s plans to set up an Indian factory, make a $24,000 car there, source more components and build charging infrastructure across the country, Portal reported last week.

Reporting by Ashna Teresa Britto in Bengaluru; Edited by Rashmi Aich and Nivedita Bhattacharjee

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