Even before it forays into India with its electric cars, American electric vehicle giant Tesla has begun heavy component sourcing from the country. It is expected to ship parts worth $1.7-1.9 billion this year from India. Commerce and industry minister Piyush Goyal said while the company finalises its launch plans for the market, it is already sourcing significantly from India, indicating the robustness of the manufacturing processes and quality of production.
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Tesla may source $1.9bn parts this year, nearly 2x of 2022: Goyal
Even before it forays into India with its electric cars, American electric vehicle giant Tesla has begun heavy component sourcing from the country. It is expected to ship parts worth $1.7-1.9 billion this year from India. Commerce and industry minister Piyush Goyal said while the company finalises its launch plans for the market, it is already sourcing significantly from India, indicating the robustness of the manufacturing processes and quality of production.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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