Tesla, steered by Elon Musk, is navigating its innovative journey into India, not merely focusing on electric vehicles (EVs) but also aiming to fortify India’s battery storage capabilities. The company is in advanced discussions, to establish an EV factory in India, intending to produce a car with a modest price tag of around ₹20 lakh.
What Happened? Per a Reuters report, Tesla’s proposition involves the integration of its “Powerwall” technology, a sophisticated system designed to store power from solar panels or the grid, providing an energy reservoir for nighttime or during power outages.
However, the quest for incentives to set up a battery storage factory has met with reluctance from Indian officials, citing their unavailability. Despite this, there’s a potential silver lining as the government explores the possibility of formulating a balanced business model, potentially extending subsidies to the consumers of such groundbreaking products.
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The realization of this ambitious proposal is still under deliberation, with both Tesla and the Indian government expressing sustained enthusiasm. This initiative is a glimpse into Tesla's broader vision for its presence in India, extending beyond EVs, and aiming to cater to the diverse needs of residential and industrial sectors with its advanced battery storage systems.
Infrastructure changes: India, grappling with peak-time power shortages and predominantly reliant on coal-based power, is eyeing a significant augmentation in non-fossil fuel power capacity to 500 GW by 2030.
Tesla’s Powerwall, a sleek, meter-high unit, could be a pivotal solution in this context, especially if Tesla manages to tailor its cost to meet the market demands, unlocking a high-demand market with the government’s support.
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