Proposal Submission to the Indian Government
Tesla is reportedly pushing to establish a production plant for its energy storage device, the 'Powerwall,' in India.
According to major foreign media on the 21st (local time), Tesla recently submitted a proposal containing such plans to the Indian government.
Tesla's Powerwall is a device that stores surplus electricity generated from solar power and other sources for later use. It is mainly designed to be installed on the walls of homes or office garages.
Tesla has requested the Indian government to provide various incentives to enable the establishment of a Powerwall production plant at a low cost. However, the Indian government is reportedly more likely to support by providing subsidies to future Powerwall buyers rather than directly offering incentives to Tesla.
Earlier, Elon Musk, Tesla's CEO, also hinted at investment plans in India. After meeting with Narendra Modi, the Prime Minister of India, who made a state visit to the United States in June, he told reporters, "India has tremendous potential for future sustainable energy development," adding, "Especially at night when there is no solar power, fixed battery packs need to be accompanied."
Although the Powerwall is primarily designed for residential and small business use, if approved by the Indian government, Tesla may also consider developing large-scale industrial products.
However, there has been no progress regarding Tesla's plan to establish a low-cost electric vehicle production plant in India. Earlier foreign media reported that Tesla was discussing building a low-cost electric vehicle production plant priced at $24,000 (approximately 32 million KRW) with the Indian government.
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