Tesla investing in India Search for factory site underway

Representatives of the American multinational automotive and clean energy company Tesla will visit India as early as this month to search for a place where the firm could build its factory.

According to the Financial Times, citing unnamed knowledgeable sources, Maharashtra, Gujarat and Tamil Nadu are among the most preferred states for Tesla's Indian plant, where other companies already have car plants and relevant infrastructure. Investments in the new plant could range from $2 billion to $3 billion.

Tesla's plans in India became known after the country's authorities adopted a plan to increase the country's investment attractiveness for electric car manufacturers. Last month, the government reduced import tariffs for electric car manufacturers that will invest at least $500 million in local production.