Tesla’s likely entry into India is gaining momentum and in the latest development it is seen to be in talks with none other than Mukesh Ambani to drive into what is one of the biggest automobile markets in the world. Hindu BusinessLine reported citing sources that the leading US electric vehicle company is currently in discussions with Reliance Industries regarding a potential joint venture to establish a manufacturing facility in the country.
A person familiar with the situation told the newspaper that discussions have been ongoing for more than a month at the initial stages and the initiative should not be interpreted as RIL’s foray into the automotive sector. The objective of RIL in the joint venture is stated to be the development of electric vehicle capabilities in India, the source added.
Another source said that although RIL’s specific role has not been finalised, it is anticipated that the Indian conglomerate will likely have a substantial involvement in setting up the manufacturing facility and the associated ecosystem for Tesla in India.
(Except for the headline, this story has not been edited by Universal Times Magazine staff and is published from a syndicated feed.)
