Tesla signs strategic deal with Tata Electronics to procure semi-conductor chips ahead of Elon Musk's visit to India
Elon Musk-owned American brand Tesla has signed a strategic deal with Tata Electronics to procure semiconductor chips for its worldwide operations, media reports said.
Tesla is understood to have signed a strategic deal with Tata Electronics to procure semiconductor chips for its worldwide operations, officials close to the development told The Economic Times, underscoring the electric carmaker’s increasing interest in India beyond local revenue generation.
Executed discreetly a few months ago, this agreement is significant as it positions Tata Electronics as a reliable supplier for top-tier global clients, the newspaper reported.
The fresh development occurred less than a week after Tesla chief Elon Musk confirmed his visit to India and said he is looking forward to meeting Prime Minister Narendra Modi.
"Looking forward to meeting with Prime Minister @NarendraModi in India!" Musk posted on the microblogging platform, which is also owned by him.
Musk and Modi previously met in New York in June. Over the following months, Tesla actively tried to pursue India for India to reduce import duties on electric vehicles as the country contemplated establishing a factory.
India recently introduced a revised EV policy, slashing import tariffs from 100% to 15% for certain models, provided the manufacturer commits to investing a minimum of $500 million and sets up a manufacturing facility
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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