Tesla aims to source automobile parts worth up to $1.9 billion from India this year, says Piyush Goyal

New Delhi, September 13

Electric vehicle major Tesla Inc plans to source automobile parts worth up to $1.9 billion this year from India, Commerce Minister Piyush Goyal said on Wednesday.

The imports will be around double as compared to auto parts worth $1 billion imported by Tesla from India last year, Goyal said while addressing the annual convention of Automotive Component Manufacturers Association (ACMA).

He said that last year,Tesla had already bought $1 billion worth of components from India and this year their target is $1.7-$1.9 billion.

The minister said he was convinced that electric vehicles are the future, which "we must try to attract".

Goyal's statement comes two months after reports said that the Elon Musk-led company has held talks with the government, and is exploring the possibility of bringing its auto parts and electronics chain to India.