Tesla Shows Interest in Setting Up R&D Center in India: Report

- Advertisement -

A report, published in the Economic Times, noted that Tesla is in active talks with government of Karnataka about setting up a R&D center in Bengaluru

US-headquartered EV company Tesla is in active talks with the government of Karnataka. The company, as per a report published in the Economic Times, has shown interest in setting up a R&D center in Bengaluru.

If materiallised, this could be the possible entry of Tesla in India. Apart from haveing facilities in USA, it also has EV factories in China. The industries department of Karnataka government has already had two rounds of discussion with Tesla.

- Advertisement -

The EV market in India, as per a report by IESA, has gained significant momentum after the implementation of FAME India scheme. The total EV sales in 2018 hit 365,920 Units and expected to grow at a CAGR of 36 per cent till 2026. The EV battery market in India is estimated to be US$ 520 Million in 2018 and forecasted to grow at a CAGR of 30 per cent till 2026. The total MWh addition in 2018 hit 4.75 GWh and expected to grow till 28.0 GWh by 2026.

A report published by Mckinsey pointed out that among EV manufacturers, Tesla continued as market leader in 2019, with 370,000 units sold globally, for a market share of about 16 per cent, up from 12 per cent in 2018.

“The launch of the Model 3 outside of the United States was the main reason for this surge. With 300,000 units sold worldwide, the Model 3 outpaced sales of the BJEV EU-series threefold and sales of Nissan Leaf fourfold,” read the report.

Tesla had begun construction of its Shanghai plant (China) in January 2019 and had successfully delivered the first locally produced EV in China in December 2019. The company also plans to build its next production plant in Germany by 2021. The company might setup a giga factory in India too.

- Advertisement -

Most Popular Articles

EV Growth-India

Commercial EV Sales Escalates To 76% In India

0
Commercial EV Sales Reached 861 units in September 2024 as compared to 489 units in September 2023. Recent data indicates a 9 percent year-on-year decline...

IESA Hosts EV Fast Charging Summit, Urges More Investment

0
As the Indian electric vehicle (EV) industry surpasses 4 million sales, industry specialists are advocating for public-private collaborations to boost EV adoption further and...

MeitY Launches Electronic Toy Hackathon To Boost Innovation

0
While celebrating the graduation of 15 engineers trained under its programme, MeitY launched the Electronic Toy Hackathon to innovate and build India’s future electronic...

Motul India And Zypp Electric Start EV Repair Training For Mechanics

0
The initiative seeks to educate more than 10,000 mechanics on skills for maintaining and repairing electric vehicles. Automotive lubricant maker Motul India has partnered with...
Defence tech-India Israel

Israel Unveils New Initiative IAI Neusphere For Deeper Defence Tech Ties With India

0
IAI has been actively involved in India across various domains, including advanced radars and airborne warning and control systems for the Indian Air Force. Israel...

“We Bring Intelligence Early On Into The Design Cycle” – Michel Van Cotthem VP...

0
With a solution embedding intelligence early in the design-to-source lifecycle, Supplyframe aims to leverage India’s electronics manufacturing boom. At IEW 2024, Michel Van Cotthem...
Vijai Karthick Selvam, Director of Teqtis

“We Do Everything From The Initial Concept To The Final Box Build” – Vijai...

0
Why are testing and R&D essential to combat printed circuit board manufacturing challenges? Speaking to EFY's Nitisha Dubey, Vijai Karthick Selvam, Director of Teqtis,...
Abhishek Malik, Executive Director, Calcom Vision Ltd

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...

HKTDC Electronics Fair Sparks Innovation, 60,000+ Participants!

0
Showcasing cutting-edge tech, global innovation, and booming markets for the future of electronics, HKTDC’s Hong Kong Electronics Fair and electronicAsia drew 60,000+ professionals. Last month,...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

Industry's Buzz

Learn From Leaders

Startups