Prime Minister Narendra Modi visits Silicon Valley to improvise on the decision on considering India for manufacturing. But the tables turned other ways round. The Tesla company did not show any keen interest in this proposal of Narendra Modi. Instead the CEO of the company, Elon Musk talks about the production of electric vehicles in China. Further announcements to be made any time soon.
The Then Reason
Though Mr Modi wanted to have a powerful impact on TSLA Company when he visited the Bay area in September alternatively, he also kept an eye on company’s power wall battery packs so that he can encourage the same electric power breakthrough technology in India as well as generated in electric cars.
A Glance at China
As per the news reported by Chinese media, Tesla’s Model S luxury sedan is to be manufactured or produced in China which is priced at $ 70,000. The reason for choosing china being high tech market tools and population to increase sales. Elon Musk also said that the production costs could be cut by one-third in China.
Since China is emerging to be the world’s largest car market, a charm is expected by Chinese population when they oversee the idea of electric cars. China, the hub of cars, sold 20 million cars last year and the demand for electric vehicles is very high. Not only to cater time issues and to add another gem to their collection of cars but to also resolve the ever-growing pollution rate. To control the pollution rates and to protect the environment from drowning under the dreadful impact of global warming, electric vehicles could play major roles.
In November 2013, Tesla Company opened a showroom in Beijing. And now shifting the production of an entire range of Tesla, would support locals and give a booster to the company. It will also encourage a sense of cohesion in China’s citizens.
Why a No for India?
Speaking on the same line, India also faces similar or rather worse issues of pollution. But the mismanagement and tough political and environmental organization have left the Tesla Company is lack of interest for opting India as production or manufacturing and selling site. There are a lot of Indian engineers supporting the Tesla Company but the decision of not considering India was taken way before Prime Minister Narendra Modi hoped for.
The ‘Make in India’ campaign didn’t prove to be beneficial for Tesla Company and hence they moved their eyes towards China for better engagement. If you want to buy the stock of Tesla, you need check its cash flow at https://www.webull.com/cash-flow/nasdaq-tsla.