look news india
There has been another setback after the much talked about Elon Musk's visit to India was postponed.
Tesla will not make any new investments at the moment, there is a plan to make cheap cars at the Hayat plant.
His visit to India will be scheduled after the end of the current year
There has been speculation for some time that American electric car company Tesla will set up a car manufacturing unit in India. There was also talk that Tesla CEO Elon Musk will come to India and talk to Prime Minister Narendra Modi and announce a big investment. There was a possibility of a meeting between Modi and Musk last Monday. But recently Tesla officially announced that Elon Musk's India tour has been postponed for the time being. His visit to India will be scheduled after the end of the current year. Now another blow has been given by Tesla. The company has announced that it will expand the capacity of its existing plants by 50 percent before investing in any new plants. This increase in capacity will be done by the end of the current year and after that investment will be made in the new plant. This means that the company's plan to set up new plants in India and Mexico will be implemented only after increasing the capacity of the existing plants.
The electric car maker said it plans to increase production by 50 percent from its current 3 million vehicle capacity by 2023 before investing in new products. The company said that the new development may result in lower cost reductions than before, but it will enable it to increase its vehicle production in a more capital efficient manner in an uncertain period.
Tesla engineering chief Lars Morve said the new manufacturing process and production lines pose some risks. A *major change* has been made by Tesla. So that its existing plants can be used to produce cheaper vehicles faster and more efficiently.