Tesla Team To Explore Site For $3-Billion Electric Car Plant In India By This Month: Report

Tesla will send a team from the United States to India by late-April to study sites for a proposed $2 billion to $3 billion (roughly Rs. 16,691 crore to Rs. 25,036 crore) electric car plant, the Financial Times reported on Wednesday, citing people familiar with the matter.

The company's reported push into India comes at a time when EV demand is slowing in its main markets of the US and China while competition there is heating up. That caused Tesla to report a drop in its first-quarter deliveries and miss estimates.

The EV maker will focus on Indian states that have automotive hubs such as Maharashtra, Gujarat and Tamil Nadu, the report said.