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Tesla and India have kicked off discussions about establishing an EV factory with an annual capacity of up to 500k electric vehicles, The Times of India reported on Thursday, citing government sources with knowledge of the matter. The US electric car manufacturer is also looking to use India as a base for car exports to countries in the Indo-Pacific, they added. “Tesla has come to us with an ambitious plan, and we are confident that the movement will be positive this time around, especially as it involves both local manufacturing and exports,” one of the sources said. The prices of the vehicles are set to start from INR 2 mn (c. USD 24.4k), according to the report.
A change of heart? The start of talks with the Indian government represents a shift in strategy for Tesla, whose previous talks with India were deadlocked last year after the Indian government turned down a request by the EV giant to lower import taxes on vehicles, Reuters reported on Thursday. In revived efforts, Tesla held talks in May with Indian officials about incentives offered by the latter for car and battery manufacturing.
The German Federal Network Agency has awarded TotalEnergies and BP offshore wind farms totalling 7 GW in capacity worth c. USD 14 bn, Reuters reported last week. In an auction held last week, BP came out as the selected bidder to develop two projects worth 4 GW out of the total 7 GW, the newswire notes. BP will use the clean energy from the projects to support its biofuel, low-carbon, and green hydrogen production targets, as well as supply power for its EV charging networks. TotalEnergies earned the rights to develop the two remaining projects, which will generate 3 GW of clean energy.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- Sydney-based Origin Energy has received an AUS 70 mn (c.USD 48 mn) financing package from the Australian government to develop the Hunter Valley green hydrogen production hub, which is expected to generate 5.5k tons annually in its initial phase. (Reuters)
- Chinese automaker BYD reportedly submitted a USD 1 bn investment proposal to the Indian government to develop EVs and batteries in the country. (Reuters)
- Five Norwegian projects have received a total of EUR 510 mn from the EUInnovation Fund. The projects include a green ammonia plant, a battery factory, and a synthetic graphite plant. (Reuters)
