Tesla to discuss factory plan for new US $24,000 car with India’s Commerce Minister: Report

Tesla representatives are slated to meet India’s Commerce Minister this month, to talk about plans to build a factory to manufacture what it has called an all new US $ 24,000 car, a source informed Reuters.

Tesla has evinced interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export, the person in the know said, adding that the company had insinuated that it would be for the new vehicle, the newswire reported.

The meeting with the commerce minister would be the highest level discussion between Tesla and the Indian government since June when Elon Musk met India's Prime Minister Narendra Modi and said he intended to make a significant investment in the country, the newswire said.

The US $24,000 EV Tesla representatives were said to have described in discussions about a potential Indian plant would be 25% cheaper than its current lowest-priced offering, the Model 3 sedan which sells for the equivalent of just over $32,200 in China, Reuters said.