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Tesla has formulated plans to manufacture and sell battery storage systems in India and has submitted a proposal to the Indian government seeking incentives to establish a factory. This move is part of Elon Musk's ongoing efforts to enter the Indian market. Tesla has been in discussions to set up an electric vehicle (EV) factory in India, with the goal of producing an affordable $24,000 car, the company's endeavours in renewable energy had not been widely reported.
In recent meetings held in New Delhi, Tesla presented a proposal to bolster India's battery storage capabilities by introducing its "Powerwall" system. The Powerwall is designed to store energy generated from solar panels or the grid for use during night time or power outages. Tesla had initially sought various incentives to establish a battery storage factory in India. However, Indian officials conveyed that these incentives might not be available.
Nevertheless, they indicated a willingness to support the company by offering subsidies to customers who purchase such products, thereby creating a favourable business environment. Both Tesla and the Indian government have expressed interest in the proposal, with New Delhi currently evaluating its feasibility. However, it remains uncertain whether the plan will come to fruition.
The Powerwall proposal is part of Tesla's broader strategy to expand its presence in India, extending beyond electric vehicles. The company is eager to cater to both residential and industrial customers with its battery storage systems. Implementing this proposal would necessitate significant policy adjustments at the governmental level. Tesla's goal is to establish a successful Powerwall business in India.
India has made strides in enhancing electricity access to towns and villages. However, the country still grapples with electricity shortages during peak demand periods. India primarily relies on coal-based power generation due to the high costs and limited availability of energy storage technologies.
Tesla is exploring opportunities to introduce its battery storage solutions in India, potentially addressing the country's electricity supply challenges and further diversifying its presence in the Indian market beyond electric vehicles.
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