Tesla interested in setting-up a GigaFactory in India

Tesla has shown interest in setting up a 50-gigawatt hour factory to make Li-ion storage batteries in India which may attract an investment of about Rs. 50,000 crores.

According to a NITI Ayog’s estimate, India needs six gigawatt-scale facilities of 10GWh each by 2025 and 12 such factories will be needed by the year 2030. First global tender is expected to be floated after cabinet clearances in September. China’s CATL and BYD Co. ltd are the other firms interested in setting up such factories in India.

These factories will not only cater to electric vehicles but will also support the electric grid. 

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