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Tesla Plans To Set Up Battery Storage Factory In India: Report As per the report, the company has submitted a proposal seeking incentives to build a factory

By Teena Jose

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Tesla

Tesla is planning to make and sell battery storage systems in the country, according to a Reuters report, adding that the company has submitted a proposal seeking incentives to build a factory.

As per the report, in a recent meeting in New Delhi, Tesla proposed supporting India's battery storage capabilities with its 'Powerwall' system that stores power from solar panels or grids for use at nights or during shortages. Tesla also sought a number of incentives to set up its battery storage factory but was told by the officials that these would not be available. Reportedly, the Indian government, however, told the company that they would help create a fair business model by offering subsidies to those purchasing such products.

While both Tesla and the Indian government remain keen on the proposal, and New Delhi continues to review it, it is not certain if the plan will be realised, said the first source.

The Powerwall proposal is part of the U.S. company's plans for a broader presence in India, thinking beyond EVs, the second source said, adding Tesla was keen to find residential as well as industrial customers for its battery storage systems.

"Large policy level calibration will be required. Tesla's intent is to have the Powerwall business in India," reportedly said the source.

During a 2015 visit to Tesla's California campus accompanied by Musk, Modi reviewed the product and later said he had enjoyed discussing how battery technology could help farmers.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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