EV Marker Tesla To Source $1.7-1.9 Bn Worth Of Components From India: Commerce Minister Piyush Goyal

New Delhi, Sept 14 (KNN) Union Minister of Commerce and Industry Piyush Goyal said on Wednesday that the Electric Vehicle manufacturer Tesla Inc aims to source parts worth USD 1.7-1.9 billion from India.

He revealed that Tesla has already sourced parts worth USD 1 billion from India. 

Addressing the Annual Session of the 63rd Automobile Component Manufacturers Association of India, he said “Tesla already last year bought USD 1 billion of components from all of you sitting here. I have a list of companies who supplied to Tesla. This year their target is nearly USD 1.7 billion or USD 1.9 billion.”

According to Reuters report last month Tesla's senior executives met the minister with an interest in building a factory in India.

It would produce a low-cost EV priced at USD 24,000, around 25 per cent cheaper than Tesla's current entry-level model, for both the Indian market and export. 

The minister also said that the government may have to take retaliatory action against countries that do not allow access to Indian steel companies but are permitted to send the metal to India.  (KNN Bureau)