Vibrant Gujarat Summit: Announcement for Tesla's plant likely to be made
American multinational automotive and clean energy company Tesla plans to set up a plant in India. The announcement will likely be made public in January during the Vibrant Gujarat Summit. Tesla is likely to invest up to USD 2 billion, contingent on a concessional duty of 15% on imported vehicles during the plant's first two years of operation.
The firm was earlier considering Gujarat, Maharashtra, and Tamil Nadu given the well-established ecosystems for electric vehicles and exports.
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