Billionaire Elon Musk’s world famous electric car company Tesla is going to start business in India. In such a situation, the US automobile giant will buy electric car manufacturing equipment from which company in the country, speculations are rife. It is also heard that the two companies may sign an agreement to buy semiconductor chips from India’s Tata Group.
Tesla may tie up with Tata group
According to a report in the Economic Times, Tesla has reached out for a strategic partnership with Tata Electronics. They will use semiconductor chips made by Tata to make cars all over the world. According to the report, the agreement has been signed between the two parties quietly in the last few months.
However, till now there is no official response from either Tesla or Tata Electronics. But if you listen to the Indian car industry, various rumors are heard about this. Many believe that this significant move by Tesla is due to the importance of India in the world of cars.
This is one of Tesla’s efforts to keep the supply chain in place by sourcing components from local companies rather than depending on a specific country or organization. Tesla has boosted business in India, one of the fastest growing car markets in the world. Milan Mask’s upcoming meeting with Prime Minister Narendra Modi at the end of this month bears witness to that. However, the content of the meeting is still unclear. According to experts, Elon Musk’s company will announce an investment of 200 to 300 million dollars for the car business in India.
