Proactive Investors - Tesla Inc (NASDAQ:TSLA, ETR:TL0) is said to be in talks with Reliance Industries over building a manufacturing facility in India.
Initial-stage talks are ongoing and have been taking place for over a month, according to a source cited by The Hindu Business Line.
“While the role of Reliance hasn’t been crystalised yet, it is expected that the Indian conglomerate may play a significant hand in establishing the manufacturing facility and the allied ecosystem for Tesla in India,” another source said.
Tesla has long been rumoured to be mulling a move into India, with US$2 billion supposedly set aside for such plans.
Gujarat and Maharashtra are among locations said to have been explored for the new plant.
“Tesla plans to use the facility for domestic and export purposes, and hence, it may prefer a location suitable for port facilities,” one of the sources added.
Elon Musk previously said on X that it would be a natural progression for Tesla to supply cars in India, while also pointing out it had become the world’s most populous country.
Tesla seniors are expected to visit India over the coming months to firm up the plans, though talks with Reliance are not yet exclusive, reports said.
Tesla shares gained 0.5% in pre-market trading.