Piyush Goyal Visits Tesla Factory, Elon Musk Says Looking Forward To Meet

India’s Commerce Minister, Piyush Goyal visited Tesla‘s state-of-the-art manufacturing facility in Fremont, California.

What Happened: In a tweet on Tuesday morning, Goyal wrote that he was impressed by the involvement of talented Indian professionals in senior positions at Tesla, contributing to the company’s innovative strides in electric vehicle technology. Additionally, he also underscored the growing importance of Indian auto component suppliers in Tesla’s EV supply chain, with plans to double its component imports from India.

While Elon Musk was unable to meet in person due to health reasons, he expressed his honour in having the minister visit and said that he looked forward to a future meeting.

Why It Matters: The visit comes at a time when the EV giant is looking to enter the Indian market. As per media reports, government departments are racing to greenlight necessary approvals by January 2024. In an important meeting led by the prime minister's Office, top brass discussed the acceleration of Tesla's investment proposal, aiming to fast-track the electric vehicle (EV) giant's entry into the Indian market.

Tesla is reportedly engaged in discussions with the Indian government regarding a temporary reduction in import tariffs on electric vehicles. This strategic move by Tesla is considered in connection with the company’s contemplation of establishing a manufacturing plant in India.

Read Next: Is Share Market Closed On Tuesday, November 14, Diwali?

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: Elon MuskPiyush GoyalTesla India