• Tue. Feb 27th, 2024

Tesla to meet commerce minister as China fumes over India’s BYD plant rejection

Tesla to meet commerce minister as China fumes over India’s BYD plant rejection

Elon Musk-Tesla representatives are expected to meet Union Commerce Minister Piyush Goyal early this month over a facility to build the Rs 20 lakh electric car, as China fumes in New Delhi by rejecting BYD Group’s bid for a $1 billion build.

According to a Reuters report, the meeting with Goyal is the highest-level meeting since Musk met Prime Minister Narendra Modi in the US last month and said he plans to bring Tesla to India as soon as possible.

Tesla has yet to comment on the report.

US electric car maker Tesla has proposed setting up a factory in India to manufacture electric cars for domestic sales and exports.

Meanwhile, as the government prepares to welcome Musk’s Tesla, the Center has reportedly rejected Chinese electric vehicle (EV) giant BYD Motors’ plan to set up a $1 billion four-wheeler manufacturing facility in the country.

According to the Chinese state-run Global Times, if India treats Tesla and BYD differently, “wouldn’t that be outright discrimination against China?”

“India will not be politically biased against Chinese investment and refrain from creating invisible entry barriers for Chinese manufacturers under the guise of economic security,” the paper said in an opinion piece.

In recent years, India has intensified its attacks on Chinese companies, which analysts have said is “to steal Chinese companies’ gains under the guise of prior intimidation and so-called security threats”.

“India’s efforts to provide a good business environment for international investment and continue to attract global companies will be a hollow promise,” the publication said.

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