Elon Musk's Tesla is looking out for land parcels in Maharashtra's Satara to set up a completely knocked down (CKD) assembly unit for electric vehicles, the Business Standard has reported.
The EV-maker had earlier held discussions with Hyderabad-based Megha Engineering for a joint venture but the talks didn't materialise, the report cited sources as saying. Tesla was also part of talks with other Indian companies for a joint venture to form a CKD unit, the report added.
Moneycontrol couldn't independently verify the report.
Completely Knocked Down (CKD) cars are shipped in various parts to a country where it is assembled before sale. This method is mostly aimed at reducing import duties.
Tesla's entry into the Indian market is expected to be completed by April 2026, the report cited an official as saying.
The US electric carmaker had posted job advertisements for several roles in Mumbai, Delhi and Pune, signalling the entry plans for the Musk-led company after his meeting with Prime Minister Narendra Modi during his US trip.
Earlier in March, Reuters reported that Tesla signed a deal to open its first India showroom in Mumbai to sell imported EVs.
The company signed a five-year lease and will pay a rent of about $446,000 for the first year for a 4,003 square feet (372 square meter) space, almost the size of a basketball court, it said.
Tesla's country head for India Prashanth Menon has stepped down after nine years at the company, just before the company’s planned entry into the market. Tesla’s China teams will oversee the firm’s India operations for now, Bloomberg reported last week.
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