Tamil Nadu to pull out all stops to attract Elon Musk – Times of India

Tamil Nadu to pull out all stops to attract Elon Musk - Times of India

Tamil Nadu is aggressively positioning itself as Tesla Inc. will serve as a manufacturing site for the U.S. as speculation continues about the US company’s planned investment ahead of a visit by billionaire Elon Musk.
“Tamil Nadu will explore all opportunities for electric vehicle manufacturing from all global car companies,” said TRB Raja, the state’s industries minister, when asked if Tesla was on his radar. The province, often referred to as Detroit, he added. For India’s vehicle manufacturing potential, the country has “excellent electric vehicle policies and ecosystems”.
Tesla’s Chief Executive Officer is scheduled to visit India and meet the Prime Minister. Narendra Modi. Luring investment from the EV giant will bolster Modi’s credentials — as well as the state where any plant can be set up — as business-friendly and in favor of job creation.
Chennai is wooing Tesla as it already has Nissan Motor Co., Renault SA, Hyundai Motor Co. and is home to BMW AG’s manufacturing facilities and auto parts supply chains. But it will face stiff competition from other states that are also requesting Musk.
Tesla is considering setting up an EV plant in India but has not made a firm commitment. The world’s third-largest greenhouse gas emitter is seeking to decarbonize its economy and become net zero by 2070. America wavers.
In contrast, the demand for EVs in India is still growing. India also reduced import duties on EVs last month and said foreign companies would have to invest at least 41.5 billion rupees ($500 million) to get the tax break and start production at a local plant within three years. EV production has to start.
Raja said that Tamil Nadu “is already the automotive capital of the country. Now “we want to make the state the EV capital as well.”

Business news,Tesla,Tamil Nadu,Narendra Modi,Elon Musk

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