Tesla to invest in India's initiative to construct battery plants

The vital interest comes in the midst of the Indian governments push to make India a center point for producing EVs and their parts.

According to NITI, India will require over 6GW scale facilities by 2025 and 12 by 2030.

American automotive giant Tesla has reportedly expressed its keen interest on investing in the Indian government's idea to constructlarge factoriesto developlithium-ion batteriesat an investment of aboutâ‚¹50,000 crore.
Apparently, the vital interest comes in the midst of the Indian governments push to make India a center point for producing EVs and their parts. This is planned for capturing the South Asian nations reputation for being the worlds third-biggest unrefined petroleum merchant, saving money on valuable outside trade and furthermore controlling contamination in its significant urban communities.
As per trusted sources, the plan to set up these 50-gigawatt hour (GWh) industrial facilities has been passed by Expenditure Finance Committee, with the last tender expected to be granted by February. Each gigawatt hour (1,000 megawatt hours) of battery limit can control 1 million homes for an hour and around 30,000 electric vehicles. Additionally, the move to build the giga plants is directed by NITI Aayog and looks forward to achieving what Tesla has done at its Gigafactory in the United States.
A source close to the government cited that they have been expecting all cabinet clearances by the end of September this year. The base cap for offering is 5GWh, with the greatest permitted quantum of 20GWh. Moreover, large batteries ought to be brought to clean energy play to help utilize decrepit power.
Reportedly, the Indian finance minister Nirmala Sitharaman in July this year announced in the Union budget tax breaks for building up mega-manufacturing plants for solar photovoltaic cells, lithium-ion storage batteries and solar electric charging infrastructure.
Meanwhile, in order to boost up the trading of electric vehicles in the nation, the GST Council recentlydecided to reduce taxes on electric vehicles and chargers.
Source credit: https://www.livemint.com/news/india/tesla-shows-interest-in-india-s-plans-to-build-battery-plants-1566150165528.html

Pranali Mehta:

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali decided to pursue content development as a full-time career and has written several diverse articles. Her other interests include reading, binge-watching movies & web series, gardening and home décor.