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Tesla has conducted site survey for Thailand EV facility, says government official

Economic Times

Economic Times · 1y ago

Tesla has conducted site survey for Thailand EV facility, says government official

Tesla has conducted a site survey in Thailand for a potential production facility for electric vehicles (EVs) and batteries. The Thai government has offered the company 100% green energy to power the facility. This move indicates Tesla's interest in expanding its manufacturing operations in Southeast Asia and capitalizing on the growing EV market in the region.

Related News

Hyundai to invest $28 million in Thailand for EV assembly, batteries

Money Control

Money Control · 1y ago

Hyundai to invest $28 million in Thailand for EV assembly, batteries

Hyundai Motor Company is set to invest $28 million in Thailand to establish an electric vehicle (EV) assembly and battery facility. The move is seen as an attempt for Hyundai to tap into Thailand's growing EV market, which is currently dominated by Chinese carmakers. The facility, located near Bangkok, is expected to start production in 2026 and will utilize Thailand's strong supply chain to source a significant portion of raw materials and parts locally. Thailand accounted for 55% of all EV sales in Southeast Asia during Q1 2022.

Optimism for financial performance at 2 year high, says CFO survey

Livemint

Livemint · 1y ago

Optimism for financial performance at 2 year high, says CFO survey

According to a CFO survey conducted by Dun & Bradstreet India, the CFO optimism for financial performance in India increased to 99.0 in Q4 2023, reaching the highest level in eight quarters. The survey also revealed that CFOs' confidence in financial and macroeconomic conditions has improved compared to the same period last year. However, optimism for the global macroeconomic scenario has diminished. The survey provides insights into various parameters, including operating margins, liquidity position, and risk appetite, among others. The CFO Optimism Index is considered a leading indicator of the Indian financial market.

Gujarat govt 'very hopeful' of Tesla setting up plant in state, says minister

Economic Times

Economic Times · 1y ago

Gujarat govt 'very hopeful' of Tesla setting up plant in state, says minister

The Gujarat government expresses optimism that Tesla will choose the state as its location for setting up a manufacturing plant. Communication between the state government and the electric vehicle maker is ongoing, and an official announcement is expected soon. This follows a meeting between Tesla CEO Elon Musk and Indian Prime Minister Narendra Modi. Gujarat is keen on providing necessary support to Tesla, similarly to what was provided to Tata, Ford, and Suzuki in the past. Additionally, Commerce and Industry Minister Piyush Goyal reveals Tesla's plan to source components worth $1.9 billion from India this year.

Elon Musk may announce Tesla's entry in India after meet with PM Modi: Report

Livemint

Livemint · 1y ago

Elon Musk may announce Tesla's entry in India after meet with PM Modi: Report

According to a senior government official, entrepreneur Elon Musk is expected to announce Tesla's entry into the Indian market following a meeting with Prime Minister Narendra Modi on April 22. While the announcement won't be site-specific, it will signal Tesla's intention to enter the market. Musk confirmed his visit to India earlier this month and a press release and video are expected to be released after his interaction with the prime minister. Tesla has been lobbying the Indian government to lower import taxes on electric vehicles as it explores the possibility of setting up a factory in the country.

Foxconn planning to make EVs in India; Tamil Nadu on radar

Economic Times

Economic Times · 1y ago

Foxconn planning to make EVs in India; Tamil Nadu on radar

Foxconn is examining options to produce electric vehicles (EVs) in India, and among the states under consideration for establishing a facility, Tamil Nadu is one of them, according to the local representative of the Taiwanese contract manufacturer. The company's chairman, Young Liu, has previously discussed the idea of regionalized car production, as demonstrated by Foxconn's plans to construct an EV factory in Ohio, USA, and another in Thailand. "He (Liu) also mentioned..." stated V Lee.

Over 63% of Indian taxpayers stick to old regime, says report

Economic Times

Economic Times · 1y ago

Over 63% of Indian taxpayers stick to old regime, says report

According to a survey conducted by PB Fintech, more than 63% of tax-paying Indians still adhere to the old tax regime, while 37% have shifted to the new one. The survey also highlighted that women are more diligent in choosing the tax regime, with 74% making informed decisions based on calculations. Provident fund investments remain the most popular choice among those sticking to the old regime, followed by life insurance instruments. The survey covered 1,263 respondents across 350 cities in India.

83% consumers not happy with convenience fees they pay online: Survey

Economic Times

Economic Times · 1y ago

83% consumers not happy with convenience fees they pay online: Survey

Around 83% of consumers are unhappy about paying convenience fees for online services, according to a survey conducted by LocalCircles. The survey also found that 84% of respondents want the government and its public sector units (PSUs) to stop charging convenience fees and promote Digital India. The survey received over 32,000 responses from consumers in 319 districts of India, with 79% of consumers surveyed claiming they are being charged convenience fees for online services. Many consumers feel that these fees are excessive and hinder the growth of digital transactions in the country.

India prepares for Musk's arrival: Space and EV industry expected to boost

Livemint

Livemint · 1y ago

India prepares for Musk's arrival: Space and EV industry expected to boost

Tesla CEO Elon Musk's visit to India has garnered praise from Lt. Gen. AK Bhatt (Retd.), Director General of the Indian Space Association. Lt. Gen. Bhatt commended Musk for his contributions to disruptive technologies, particularly in the space exploration field. While Musk's visit primarily focuses on Tesla and electric vehicles, Lt. Gen. Bhatt emphasized the potential for domestic manufacturing, job creation, and the introduction of advanced automotive technology in India. Stakeholders anticipate the bolstering of India's EV ecosystem and the advancement of sustainable mobility solutions with Tesla's potential entry into the Indian market. A government official suggests that Musk may announce Tesla's entry into India after meeting with Prime Minister Narendra Modi on April 22.

Tesla’s Entry Into India Will Be ‘Natural Progression’: Elon Musk

Inc42 · 1y ago

Tesla’s Entry Into India Will Be ‘Natural Progression’: Elon Musk

Electric vehicle manufacturer Tesla is planning to enter the Indian market by setting up a $2 billion manufacturing unit. The company's CEO, Elon Musk, has expressed the belief that India, as the most populous country in the world, should have electric cars. A team from Tesla is expected to visit India to scout for a suitable location for the manufacturing facility, which is likely to be operational in two years. Tesla also plans to produce right-hand drive cars at its plant in Germany for export to India. This move comes as Tesla faces slowing EV demand in the US and China.

Telangana Govt In Talks With Tesla To Build EV Plant

Inc42 · 1y ago

Telangana Govt In Talks With Tesla To Build EV Plant

Tesla Motors is reportedly sending a team to India later this month to search for potential locations for its first factory in the country. The Telangana government is in talks with Tesla about setting up the facility in the state, which has been actively seeking investment opportunities from global companies. The team will scout locations in Maharashtra, Gujarat, and Tamil Nadu. This comes after the Indian government approved a new policy offering lower import duties on electric vehicles if companies set up manufacturing facilities in the country. Tesla has also started production in Germany for cars to be exported to India.

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