Tesla (TSLA) to discuss factory for $24,000 car with Indian commerce minister
Tesla could be working on a $24,000 EV, according to a new report.
While electric vehicles may have a reputation for being pricier than their gas-powered counterparts, EV manufacturers have been making strides to provide more cost-efficient options for consumers. This includes Tesla, which remains the leading manufacturer of electric vehicles despite increased efforts from legacy auto companies. Tesla has expressed a desire to provide cheaper EV options, and the company may be working on a car that costs as low as $24,000.
Word of Tesla’s new $24,000 vehicle comes from a recent Reuters report. According to the outlet, sources have indicated that representatives of Tesla have met with the commerce minister of India. During the meeting, the two sides discussed a potential new factory, where Tesla would primarily manufacture the alleged new car, which would be priced at $24,000. The hope would be to distribute the majority of these vehicles locally.
Source: Tesla
A potential Tesla factory in India would be a pretty huge move for the company in its effort to get more EVs on the road around the world. Earlier this year, Tesla CEO Elon Musk met with India Prime Minister Narendra Modi, stating that the EV company would be in India "as soon as humanly possible.” Earlier this year, Tesla broke ground on a new gigafactory in Mexico.
The prospect of Tesla opening a new factory in India is quite fascinating, and the idea of the company introducing a $24,000 EV is even more so. We’ll be watching closely for an official update from Tesla, as the company declined to comment on the Reuters report. In other Elon Musk-adjacent news, Twitter officially transitioned its branding to X earlier today, sparking discussions and debates over the future of the social media platform.
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replyDonovan Erskine posted a new article, Tesla (TSLA) to discuss factory for $24,000 car with Indian commerce minister
