Tesla is seeking local partners in India to manufacture its rooftop solar panels. The chosen partner will assist with production and installation, while Tesla will contribute their technological knowledge and sales skills. Elon Musk’s team has informed the government about their plans and is seeking financial assistance such as subsidies and grants for the project.
This comes as Prime Minister Narendra Modi has introduced the PM Surya Ghar: Muft Bijli Yojana, a scheme that will offer free electricity to 1 crore households in India, providing them with up to 300 units of electricity.
The project aims to provide free electricity to 1 crore households by installing rooftop solar panels, with an investment of Rs 75,000 crore. Each household will receive up to 300 units of electricity every month. The government will give significant subsidies to people’s bank accounts to help them afford bank loans for installing rooftop solar panels.
Tesla produces multiple home energy products in addition to electric vehicles, including solar power systems like Solar Roof, Powerwall, a battery storage unit, and solar panels. Last year, Tesla submitted a proposal to the government to establish a factory for producing battery storage systems.
Last year, Tesla discussed its plan to assist India in improving its battery storage abilities by introducing its Powerwall system during meetings in New Delhi. The Indian government stated that it would not offer any benefits or incentives for the establishment of a battery storage factory although it would provide subsidies to customers who buy Tesla’s battery storage products, which would create a fair business model for the company.
Reference- live Mint, Economic Times, Business Standard, Mercom India