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Maharashtra invites Tesla to invest in state after electric car major reveals entry in Indian market in 2021

Maharashtra, Tesla car maker, Tesla, Chakan Industrial Area
Image Source : FILE PHOTO Maharashtra is already residence to a number of home and international vehicle producers with Chakan Industrial belt close to Pune a major vehicle hub in the state.

In a bid to entice extra investments in the state and improve employement alternatives, Maharashtra has held discussions with electric car major Tesla and invited the corporate to invest in the state, weeks after the American agency revealed its plans to enter the Indian market in 2021. State Tourism Minister Aaditya Thackeray mentioned in a tweet on Thursday that Industries Minister Subhash Desai held a video name, in which he additionally participated, with the Tesla crew, inviting the electric car maker to Maharashtra.

 

Maharashtra is already residence to a number of home and international vehicle producers with Chakan Industrial belt close to Pune a major vehicle hub in the state.

 

“This evening I had the opportunity to participate in a video call by Industries Minister @Subhash_Desai ji with @Tesla team to invite them to Maharashtra. I was present not because of just the investment but my firm belief in electric mobility & sustainability @elonmusk,” Thackeray mentioned in a tweet.

 

 

 

Tesla Inc co-founder and chief government Elon Musk had earlier this month mentioned the corporate will enter the Indian market in 2021.

 

“Next year for sure,” Musk mentioned whereas replying to a question on Tesla’s India plans on Twitter.

 

“We are firmly committed to policy building and changes for sustainable development and I personally believe that electric mobility, supported by renewable energy is the way ahead. Let’s hope we can help this thought become mainstream soon,” Thackeray mentioned in one other tweet.

 

An Avendus Capital report in July this 12 months had forecast that the Indian EV market may very well be a Rs 50,000 crore alternative by 2025.

 

Factors corresponding to insurance policies, battery price, charging infrastructure and provide chain in addition to localisation are anticipated to drive the adoption of EVs in numerous segments in the nation over the following decade, the report famous.

 

India Ratings and Research (Ind-Ra) in its report has mentioned the coronavirus pandemic is predicted to delay the penetration of electric automobiles in India, as low affordability and the federal government’s precedence on reviving current standard vehicle trade shift the main target away from EVs in the interim.

 

Ajay Sawhney, Partner, Cyril Amarchand Mangaldas, mentioned, “Maharashtra has a good EV policy in place with a vision to develop the state as leader in EV manufacturing, but it may face stiff competition, in attracting EV players, from other states which have also taken various initiatives in EV space.”

 

The state’s dedication to electric mobility is being backed by subsidies and different initiatives, he mentioned including that although the state is nicely positioned with its industrial and industrial ecosystem to entice EV gamers, it might face stiff competitors from different states which aren’t trailing far behind in EV initiatives.

 

“The central government has taken several steps to demonstrate its commitment towards creating an ecosystem for e-mobility in India.

However, absence of a holistic policy framework presents a key challenge in its successful implementation,” he mentioned.

 

In transferring in the direction of a cleaner transport system, an goal analysis of the insurance policies adopted by totally different states with the intent of growing a typical coverage framework is the necessity of the hour to make sure the success of electric mobility throughout the nation, Sawhney mentioned.

“This approach would not only aid in the identification of problems in the value chain but would also assist in identifying long term solutions to make electric mobility a successful valid alternative in India,” he added.

 

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