Tesla continues to push ahead with Asia expansion

Tesla will build an automobile factory in India. This was claimed by the chief minister of the state of Karnataka on Sunday, the “FAZ” reported. Only in January, Tesla registered the subsidiary Tesla India.

The e-pioneer seems to want to profit from the growth of the populous state. In addition to production, sales are also to be expanded. However, electric mobility still enjoys a niche existence there. To date, India only has a total of 5,000 electric cars. According to the Ministry of Transport, however, the country strives to become a significant player in the future electromobility market.

When Tesla starts selling cars in India still seems uncertain. Musk emphasized in the past that this would be the case as early as 2021.

At the same time, other plans of Tesla in Southeast Asia are also taking shape. The U.S. company is currently negotiating with Indonesia about battery deliveries. Specifically, this concerns the raw material nickel, in which Tesla is interested – Indonesia is the world market leader with an annual production volume of 800,000 tons.

Within the last year, the price of Tesla shares rose by 361.5 percent. Within the last month, however, the price fell by 3.3 percent. Because of the rapid jump in the share price, however, the comparatively marginal correction should be quite bearable for the car share shareholders.