133619In view of reduced inflation and expenses, will it be right to invest in IT stocks?

Tesla is reportedly exploring potential partnerships to establish its presence in India. According to a report in The Hindu Businessline, discussions are underway between the American electric vehicle giant and Reliance Industries regarding a joint venture to establish a manufacturing facility within the country.

These discussions, although in their early stages, have been ongoing for over a month, indicating both parties’ interest. It’s important to note that Reliance Industries’ involvement should not be interpreted as a foray into the automotive sector. Instead, their objective lies in bolstering India’s electric vehicle infrastructure.

While the specific role of Reliance Industries is yet to be defined, there is speculation that the conglomerate could significantly contribute to setting up the manufacturing facility and supporting ecosystem for Tesla in India. This aligns with RIL’s recent initiatives, such as launching India’s first hydrogen internal combustion engine-powered heavy-duty truck and introducing removable and swappable batteries for EVs.

Tesla has earmarked $2 billion for its endeavours in India and is considering various locations for its manufacturing plant, with Maharashtra emerging as a potential frontrunner due to its port facilities, crucial for both domestic production and exports.

Elon Musk, CEO of Tesla, has expressed India’s significance in the global electric vehicle market, affirming Tesla’s commitment to providing its electric vehicles in the country during a recent discussion. As plans progress, senior Tesla officials are expected to visit India soon to finalize the plant location and solidify the joint venture with Reliance Industries.

However, it’s worth noting that the ongoing discussions with Reliance Industries are not exclusive, leaving room for Tesla to explore other domestic partnerships if necessary.