News Brief
Tesla Plans Solar Panel Manufacturing In India Amid Government's Rs 75,000 Crore Push: Report
Solar panel manufacturing (Representative Image)
US electric automaker Tesla is reportedly looking for local partners to make its rooftop solar panels in India.
The selected partner will help with the manufacturing and installation, while Tesla will provide technology and sales expertise.
The Elon Musk-led has already communicated its plans to the government and is looking for subsidies and other grants for the venture, Livemint reported citing sources.
This comes as Prime Minister Narendra Modi on Tuesday (12 February) announced the launch of PM Surya Ghar: Muft Bijli Yojana (free electricity scheme) to provide up to 300 units free electricity to 1 crore households in the country.
The project, with an investment of Rs 75,000 crore, aims to light up 1 crore households by providing up to 300 units of free electricity every month though rooftop solar panels.
Under the scheme, the government will provide substantive subsidies, credited directly to people’s bank accounts, to heavily concessional bank loans on installation of roof top solar panels.
Apart from electric vehicles, Tesla manufactures several home power products covering solar power generation and storage products such as Solar Roof, Powerwall, a battery power storage unit, and solar panels.
This proposal includes using Tesla's "Powerwall" system, which can store power from solar panels or the grid for use during outages or at night.
While Tesla has been in discussions about establishing an electric vehicle factory in India, its plans for battery storage have not received widespread attention.
During its meetings with officials in New Delhi last year, Tesla presented its proposal to support India's battery storage capabilities with its Powerwall system.
However, the Indian government indicated that it would not provide incentives for a battery storage factory.
Instead, the government suggested the possibility of offering subsidies to consumers who purchase Tesla's battery storage products, creating a fair business model for the company.
Tesla's broader plans in India extend beyond electric vehicles, as the company is interested in finding residential and industrial customers for its battery storage systems, such as the Powerwall.
