Piyush Goyal: Tesla plans to procure up to $1.9 bn in auto parts from India this year
Goyal stated that imports would double, surpassing Tesla's $1 billion of auto parts imported from India in the prior year, at the ACMA convention.
New Delhi: Electric vehicle major Tesla Inc plans to source automobile parts worth up to $1.9 billion this year from India, Commerce Minister Piyush Goyal said on Wednesday.
The imports will be around double as compared to auto parts worth $1 billion imported by Tesla from India last year, Goyal said while addressing the annual convention of Automotive Component Manufacturers Association (ACMA).
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He said that last year,Tesla had already bought $1 billion worth of components from India and this year their target is $1.7-$1.9 billion. The minister said he was convinced that electric vehicles are the future, which “we must try to attract”.
Goyal’s statement comes two months after reports said that the Elon Musk-led company has held talks with the government, and is exploring the possibility of bringing its auto parts and electronics chain to India.
