Tesla intends to build an automobile factory in India and will purchase US $1.7 billion to 1.9 billion US dollars in spare parts this year.

CTOnews.com, September 14 (Xinhua)-- according to Tech Crunch, Indian Minister of Commerce Piyush Goyal, Tesla plans to purchase auto parts worth $17-1.9 billion (CTOnews.com Note: currently about 123.76-13.832 billion yuan) from India this year.

In a nutshell, the purchase is likely to be nearly double the roughly $1 billion worth of auto parts Tesla bought from India in 2022.

"We will begin to enjoy the fruits of the entry of new technologies, innovation and research and development into India," Piyush Goyal said at a car event in New Delhi. "at that time, we will not only meet the growing demand in India, but also start exporting the same parts as they are sold in other parts of the world."

Tuyuan Pexels reported in July that Tesla's representatives will meet with Indian Commerce Minister Goyal to discuss the construction of a car factory to produce an electric car worth 24000 US dollars (currently about 175000 yuan), which may be the legendary Model Q.

Tesla had expressed interest in building a car factory in India to produce low-cost electric cars, people familiar with the matter said at the time. The model is sold in the Indian market and will be exported to other countries. If the news is true, the $24000 electric car will be 25 per cent cheaper than Tesla's cheapest Model 3 model.

In fact, Tesla has coveted the Indian market for a long time. As early as February 2021, Tesla registered a company in India, taking a step into the Indian market. However, due to the delay in the negotiations between Tesla and the Indian government on tax concessions, Tesla's plan to enter the progress market has been delayed so far.