Tesla to Double Imports of Components from India, Trade Minister Says
BENGALURU, Nov 14 – U.S. electric car maker Tesla Inc (TSLA.O) is set to double the number of components it imports from India, according to Indian trade minister Piyush Goyal.
In a post on social media platform X, Goyal expressed his pride in the growing importance of auto component suppliers from India in Tesla’s EV supply chain. “It is on its way to double its components imports from India,” he said, after visiting Tesla’s manufacturing facility at Fremont, California.
Goyal was unable to meet with Tesla chief Elon Musk during his visit to the plant, but he said in September that Tesla was aiming to source components worth between $1.7 billion and $1.9 billion from India this year, having bought $1 billion of components last year.
The trade minister’s visit to the U.S. was expected to include discussions with Musk about Tesla’s plans to set up an Indian factory, manufacturing a $24,000 car there, sourcing more components, and establishing charging infrastructure across the nation, according to a Reuters report last week.
Reporting by Ashna Teresa Britto in Bengaluru; Editing by Rashmi Aich and Nivedita Bhattacharjee
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