Tesla Seeking to Increase Component Imports from India

The US EV maker Tesla Inc. is looking to increase the number of components it imports from India, according to Indian trade minister Piyush Goyal's announcement on social media platform X on Nov 14. The electric car maker plans to double its imports from India.

“It's great to see the increasing significance of Indian auto component suppliers in Tesla's EV supply chain. A proud moment indeed!” says Goyal

Goyal added that he was unable to meet Tesla chief Elon Musk during his visit to the plant, however. In September, he stated that Tesla's goal was to acquire components totaling between $1.7 billion and $1.9 billion from India this year after purchasing $1 billion worth of components last year.

The U.S. visit by the minister, as per a recent report from Reuters, the agenda was to have discussions with Musk regarding Tesla's intention to establish a factory in India, produce a $24,000 car there, increase component sourcing, and create a nationwide charging infrastructure.

Tesla, a company based in Austin, Texas, is a leading American multinational that specializes in the design and production of electric vehicles, battery energy storage devices, solar panels, solar shingles, and other clean energy products and services. Tesla Energy, a subsidiary of Tesla, is a leading developer and installer of photovoltaic systems in the United States. It is also one of the world's biggest suppliers of battery energy storage systems, having installed 6.5 gigawatt-hours (GWh) in 2022.