The result of intense negotiations could be an opportunity for Tesla to negotiate terms for entering the world's third largest automotive market without the competitive threat from BYD that it faces in other emerging markets such as Thailand.
«The Future Whoever wins in India will have some influence who wins worldwide in the electric car race — said Jasmeet Kurana.
Following a meeting between Musk and Indian Prime Minister Narendra Modi in New York in June, Tesla accelerated closed talks with Indian officials about a potential investment in a plant and plans to build a new, low-cost, $24 electric vehicle ;000 dollars.
These talks continued into last week as Tesla discussed details of its plans to gain access to sources. These meetings, however, are kept strictly secret.
Meanwhile, BYD seems to be fading into the background. Months after receiving approval for its own $1 billion investment in India, BYD is no longer looking to enter the Indian market. Another setback is that BYD is facing investigation over allegations that it has underpaid import tax in india.
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