Maharashtra invites Tesla to invest in state

INDIAN state Maharashtra is looking for potential investment from the US electric car major Tesla in the state and has held discussions with the company, weeks after Tesla revealed its plans to enter the Indian market.

State Tourism Minister Aaditya Thackeray said in a tweet on Thursday that Industries Minister Subhash Desai held a video call, in which he also participated, with the Tesla team, inviting the electric car maker to Maharashtra.

Maharashtra is already home to a host of domestic and foreign automobile manufacturers with Chakan Industrial belt near Pune a major automobile hub in the state.

‘This evening I had the opportunity to participate in a video call by Industries Minister @Subhash_Desai ji with @Tesla team to invite them to Maharashtra. I was present not because of just the investment but my firm belief in electric mobility & sustainability @ elonmusk,’ Thackeray said in a tweet.

Tesla Inc. co-founder and chief executive Elon Musk had earlier this month said the company will enter the Indian market in 2021.

‘Next year for sure,’ Musk said while replying to a query on Tesla’s India plans on Twitter.

An Avendus Capital report in July this year had forecast that the Indian EV market could be a $6.77 billion opportunity by 2025.

Factors such as policies, battery cost, charging infrastructure and supply chain as well as localisation are expected to drive the adoption of EVs in various segments in the country over the next decade, the report noted.

‘We are firmly committed to policy building and changes for sustainable development and I personally believe that electric mobility, supported by renewable energy is the way ahead. Let’s hope we can help this thought become mainstream soon,’ Thackeray said in another tweet.