Tesla to build an electric car factory in India for $3 billion

Tesla is preparing to explore sites in India to build an electric car factory there with investments worth $3 billion.

According to the Financial Times, the value of the factory may range between two to three billion dollars, as the electric car company will focus on the Indian states of Maharashtra, Gujarat and Tamil Nadu, which already have car centers.

Last month, India reduced import tariffs on specific electric cars for car companies willing to invest at least half a million dollars and start local manufacturing in the country within 3 years.

Last month, the Indian government said it had approved a plan to promote India as a manufacturing destination so that electric vehicles can be manufactured with the latest technology.