Tesla is planning to manufacture and sell battery storage solutions in India as part of its efforts to expand footprint.
Elon Musk’s firm is said to have drawn up ideas and submitted a request seeking incentives to establish a plant. The news comes amid discussions about establishing a new electric car facility in the country.
According to Reuters, Tesla attended multiple meetings in New Delhi and offered using its “Powerwall” system to assist the country’s battery storage capacities. As per sources, Indian officials have turned down demands for a variety of incentives to establish a battery storage facility. There is no guarantee that the idea would be implemented, as regulators continue to study the automaker’s proposal.
Tesla’s Powerwall is a sleek, one-meter-tall device that can be mounted in a garage or outside a home.
As per Business Today, Tesla has been in negotiations with the Indian government about establishing a new electric vehicle plant in India to produce a car costing around $24,000 (around Rs 19 lakh). The Powerwall concept is part of the company’s intentions for a bigger footprint in India, something other than EVs.
The majority of India’s electricity is generated from coal. However, India is attempting to transition to non-fossil fuel power, with the goal of boosting capacity to 500 GW by 2030.
The Powerwall is aimed for household and light business use. If the concept is realised, Tesla might build greater solutions for the Indian sector.
In California, a Powerwall costs more than $5,500 (about Rs 45,000), plus the cost of solar panels. According to reports, Indian officials informed Tesla that it would have to focus on lowering the cost of its battery storage goods.
Earlier this month, Union Minister of Commerce and Industry Piyush Goyal said that Tesla intends to purchase components worth $1.7-$1.9 billion from India, according to Reuters. Goyal also stated that Tesla had already sourced $1 billion in components from India the previous year.
Earlier in June, Tesla CEO Elon Musk met with Prime Minister Narendra Modi in the United States. The billionaire industrialist has stated that Tesla will be making big investments in India.
Following a year-long stalemate, the two parties began negotiations in May. Musk had previously targetedIndia for its high import duties and electric-vehicle laws. Meanwhile, New Delhi has advised Tesla not to sell Chinese-made vehicles in the country.
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