Tesla to spend up to $4.5 billion on Indian EV factory – report

AutoExec Summary
Tesla is reportedly planning to build a new factory in India, with up to US$3 billion in investments. The company will send a team to India to study potential sites for the factory, and is expected to invest US$2 billion to $US3 billion. The Indian factory could produce up to 500,000 cars a year, and may also include a battery plant. Tesla CEO Elon Musk has expressed interest in opening a factory in India, and the new model may be produced there. India is the third-largest new car market in the world, with EV sales increasing to 6.4 per cent in 2023.

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