Tesla has sent scouts out across India to pick a location for a new EV factory that would cost between $2 billion and $3 billion, the Financial Times has reported, citing unnamed sources in the know. According to the FT sources, priority will be given to states with already established and well-developed car manufacturing infrastructure.
Talk about a factory resurfaced last year, however, after negotiations with the Modi government. 'I am confident that Tesla will be in India and will do so as soon as humanly possible,' Elon Musk said at the time. The aim is to produce affordable cars at the Indian factory, with a local publication reporting in mid-2023 the starting price of the future vehicles could start at $24,400.
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