Tesla And BYD Both Set Sights On India’s Thriving Market For Affordable Electric Vehicles

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  • Tesla eyes an Indian factory with a 500,000-vehicle capacity, producing affordable EVs starting at $24,400
  • China’s BYD is also gearing up to make a mark in the Indian EV market through a collaboration with a local company

India’s car market is about to experience a big change as two global EV leaders target the country. Tesla is in talks with the Indian government, contemplating an investment that would establish a factory capable of manufacturing half a million electric vehicles annually. Affordable EVs priced at $24,400 will roll off the production line, aiming to make a lasting impact on the country’s automotive landscape.

Previously hindered by steep import taxes, Tesla has now created an export base within the Indo-Pacific region. Tesla envisions making EVs more affordable for Indian consumers, surpassing their current offerings and bringing electric mobility to a wider audience.

 

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Meanwhile, China’s BYD is not far behind in this electrifying race. In collaboration with Megha Engineering and Infrastructures, BYD has submitted a $1 billion plan to Indian regulators. If approved, this plan will enable the local manufacturing of batteries and a comprehensive array of EVs, spanning from basic hatchbacks to luxury models.

Both Tesla and BYD’s efforts will bring significant changes to India’s EV ecosystem. Being the world’s third-largest new-car market, the country holds immense potential for sustainable growth in electric mobility. With affordable EVs becoming the norm, India’s automotive landscape is heading toward a greener and more promising future

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