Will Tesla Run On Indian Roads Soon?; A Game-Changer For The EV Market

As Tesla chief Elon Musk gears up to visit India this month, speculations are rife about potential investment plans to manufacture electric vehicles (EVs) in the country. If realized, this move could significantly boost India's aspirations to become a key EV hub. With India's EV market projected to capture over 40% of the total automotive market and generate $100 billion in revenue by 2030, Musk's potential investment could be a transformative development. India recently announced a new EV policy aimed at reducing import duties on certain models, incentivizing companies to invest at least $500 million and establish manufacturing facilities. Reports suggest that Musk is also considering a joint venture with Reliance Industries, further indicating Tesla's serious interest in the Indian market. These developments come in the wake of US Treasury Secretary Janet Yellen's recent visit to China, where she cautioned against overproduction of EVs, highlighting the potential repercussions for global markets. Yellen emphasized the importance of fair competition and preventing the flooding of markets with artificially cheap products. Once Tesla officially enters India, it is expected to not only create job opportunities but also drive down prices, making Tesla EVs more accessible to Indian consumers. With these potential developments, the question arises: Will we finally witness Tesla vehicles on Indian roads? The answer may lie in the outcome of Musk's upcoming visit and the subsequent investment decisions.