'India is poised to become a big market, big producer of EVs': Piyush Goyal on Tesla’s entry in India

Union Minister for Commerce & Industry, Piyush Goyal, during his recent visit to San Francisco, US, stated that India is set to become a significant market and producer of electric vehicles (EVs). This statement comes amidst the Indian government's efforts to attract Tesla and other automobile manufacturers by reducing import tariffs on EVs.

Goyal claimed that his visit to the Tesla facility aimed to engage with the high-quality, senior-level Indian talent contributing to Tesla's success story and to observe the electric vehicle factory. He expressed pride in the increasing contribution of Indian parts and components in the making of electric vehicles. "Last year, India exported about a billion dollars worth of goods. This year, it'll almost double to $1.9 billion of exports from India to Tesla," Goyal said. He further added that India is producing high-quality products, spare parts, and auto components, which will aid in expanding the country's electric auto ecosystem.

Goyal also praised Tata Motors and Mahindra & Mahindra for promoting and manufacturing electric vehicles in India and expanding their operations. Goyal believes that India is poised to become a big market and a big producer of electric vehicles.

He said, "India is producing really high-quality products, spare parts, auto components, which I'm sure will help us as we expand our electric auto ecosystem. As more and more companies from around the world come into India, as our two companies, Tata and Mahindra, who are doing a fabulous job on promoting and manufacturing electric vehicles in India, expand their operations, I think in every respect, India is poised to become a big market and a big producer of electric vehicles."

However, Goyal clarified that no decisions have been taken regarding Tesla's entry into India or their role in India's private sector engagement in the Space sector. He claimed that these matters were for officials to look at.

Visit to Tesla Fremont Factory

Earlier this week, Goyal visited Tesla's Fremont factory. He expressed his delight in seeing Indian engineers and finance professionals working in senior positions at Tesla and contributing to its journey to transform mobility. He also acknowledged the growing importance of auto component suppliers from India in the Tesla EV supply chain.

In a post on social media app X, Goyal stated, “Visited @Tesla’s state of the art manufacturing facility at Fremont, California. Extremely delighted to see talented Indian engineers & finance professionals working at Senior positions and contributing to Tesla’s remarkable journey to transform mobility. Also proud to see the growing importance of Auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India. Missed Mr @ElonMusk’s magnetic presence and I wish him a speedy recovery."

Tesla CEO Elon Musk responded to Goyal's tweet saying, "It was an honor to have you visit Tesla! My apologies for not being able to travel to California today, but I look forward to meeting at a future date."

Goyal, who was on a visit to the United States from November 13 to 16, participated in the third in-person Indo-Pacific Economic Framework (IPEF) Ministerial meeting and attended the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco. Upon his arrival in the US, Goyal met with Singapore’s Minister for Trade and Industry, Gan Kim Yong, to discuss ways to accelerate cooperation across sectors to further deepen the economic partnership between India and Singapore.

Also read: ‘Delighted to see talented Indian engineers': Piyush Goyal visits Tesla factory in US but missed Elon Musk's 'magnetic presence'

Also read: 'Look forward to meeting in future': Tesla CEO Elon Musk apologises for missing meeting with Union Minister Piyush Goyal