Tesla looks to set up a battery storage facility in India
Tesla
As Elon Musk pursues his goal of entering the Indian market, Tesla has developed plans to produce and market battery storage systems in India and has submitted a pitch to officials looking for incentives to create a facility, according to two sources familiar with the development who spoke to Reuters.
For weeks, officials at Tesla have been in direct conversations with Prime Minister Narendra Modi about establishing a new electric vehicle (EV) manufacturing facility in India to produce cars costing roughly $24,000. However, there have been no reports of its renewable energy drive so far.
These moves, according to a report by Mint, occurred just a few days after Union Minister Piyush Goyal announced that the business intended to purchase components worth $1.7 to $1.9 billion from India. The representative claimedthat Tesla already purchased $1 billion worth of equipment from Indian suppliers last year.
According to the anonymous sources in correspondence with Reuters , during recent discussions in New Delhi, Tesla recommended assisting the nation's battery storage capacities with its "Powerwall" system, which can store energy from solar panels or the grid for usage at night or during power cuts.
One of the sources added that although Tesla requested a variety of incentives to establish a battery storage factory, Indian officials made it clear that they would not be granted. However, they emphasised that by providing subsidies to consumers who buy their products, the government may assist the corporation in developing a fair economic model.
The first source informed Reuters that, it is uncertain whether the idea will be implemented, even though both Tesla and the Indian government continue to remain invested in it.
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The second source told Reuters that, the Powerwall offer was a part of the American company's intentions for a more extensive presence in India, with ideas beyond EVs, and that Tesla was eager to look for both residential and industrial consumers for its battery storage systems.
(With inputs from Reuters)
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