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India finalizing plans to build 4 Tesla-style giga factories

tesla-gigafactory

The Indian government is finalizing plans to build at least four Tesla-style giga factories (for battery manufacturing) worth $4 billion as part of elaborate plans to transition to electric vehicles, cut down pollution and reduce dependency on foreign oil imports.

NITI Aayog is looking to emulate what has been done by Tesla at Gigafactory in Nevada, USA, in the hopes that these factories of 10 gigawatt hours (GWh) each will help secure India’s energy needs and stimulate R&D in the electric vehicle industry.

The government is also planning to offer a number of incentives to manufacturers of batteries, including concessional financing options and reduction in taxes.