A recent report from The Economic Times (ET) suggests that US-based global electric vehicle (EV) giant Tesla has forged a strategic agreement with Tata Group’s subsidiary, Tata Electronics, to procure semiconductor chips for its operations worldwide.
The deal was reportedly executed discreetly several months ago, indicating Tesla’s growing interest in India beyond local revenue generation, as per sources familiar with the matter cited by ET.
This development comes amidst Tesla’s eagerness to penetrate India, which is currently the world’s fastest-growing major automotive market.
According to reports, Tesla’s CEO Elon Musk is scheduled to visit India this month for a meeting with Prime Minister Narendra Modi.
During his visit, Musk is anticipated to unveil potential investments in India, including a commitment to fund electric vehicle manufacturing facilities.
ET noted that neither Tesla nor Tata Electronics responded to requests for comments on the matter.
The report did not specify the exact value of the sourcing deal between Tesla and Tata Electronics, according to Arabian Business.
