Karnataka CM said that Tesla will be setting up a manufacturing plant near Bengaluru
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After incorporating its Indian entity last month, Elon Musk’s Tesla is planning to set up a manufacturing plant for electric vehicles (EVs) in India.
Karnataka chief minister BS Yediyurappa said that Tesla’s factory would be set up near the Tumakuru district, on the outskirts of Bengaluru at a cost of INR 7,725 Cr. Last month, the company officially entered India by registering its entity in Bengaluru, where it plans to set up a research and development unit.
Tesla’s entry into the Indian market will mark a new era in the electric vehicle industry, but its exorbitant pricing in comparison to the competition raises questions about the addressable market that the company is targeting in India. For instance, Tesla’s top-selling Model 3 costs…