Tagged: Indian

Indian auto parts makers’ shares gain on report of talks with Tesla

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo

BENGALURU, Aug 30 (Reuters) – Shares of Indian auto parts suppliers rose as much as 14% on Monday following a report electric-vehicle maker Tesla Inc (TSLA.O) was in talks with at least three companies to source critical parts for its planned entry into the country.

Tesla, which is looking to set up a factory in India if it is successful with imported vehicles, is holding early talks with some companies for the supply of components such as instrument panels, windshields,

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Indian auto part makers want Tesla’s entry to benefit local companies

A Tesla sales and service center is shown in Costa Mesa, California, U.S. June 28, 2018. REUTERS/Mike Blake/File Photo

NEW DELHI, Aug 3 (Reuters) – India’s auto component makers want Tesla’s potential entry to benefit the country’s suppliers, and one way to achieve that is for the company to manufacture locally, the head of the Automotive Component Manufacturers Association (ACMA) said.

Tesla Inc (TSLA.O) Chief Executive Elon Musk said in July that the company was likely to set up a factory in India if successful with imported vehicles after it sought big cuts in import duties on electric cars.

The

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