Reuters was first to report that Tesla (TSLA.O) has drawn up plans to make and sell battery storage systems in India and submitted a proposal to officials seeking incentives to build a factory, two people aware of the plan said, as Elon Musk continues a push to enter the country.
Automotive
Tesla proposes building battery storage factory in India
22 September 2023, 1:28 pm 1 minute
Market Impact
Tesla proposed supporting the country’s battery storage capabilities with its “Powerwall”, a system that can store power from solar panels or the grid for use at night or during outages. Although Tesla sought a number of incentives to set up a battery storage factory, Indian officials conveyed these would not be available, one of the sources said. But they added that the government could help create a fair business model for the company by offering subsidies to those purchasing such products.
Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: Industrial Goods & Manufacturing
Regions: Asia
Countries: India
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
