- Tesla, Inc (NASDAQ:TSLA) proposed setting up a factory in India to build electric cars for domestic sale and export.
- The EV maker did not discuss lowering import tax on electric vehicles, Reuters cites familiar sources.
- Senior Tesla executives are in India this week to meet the government to discuss local sourcing of parts and other issues.
- Tesla’s renewed interest in India comes nearly a year after it shelved plans to sell cars there after failing to secure lower import taxes.
- Local sourcing aligns with the Indian government’s pitch to attract manufacturers, especially as companies including Apple Inc (NASDAQ:AAPL) look to diversify their supply chains beyond China.
- Price Action: TSLA shares traded higher by 2.60% at $170.85 on the last check Wednesday.
Apple Defies Smartphone Market Slump In Q3 As Shipments Climb 8% YoY: Report
Apple Inc. (NASDAQ: AAPL) was the lone smartphone vendor to register year-over-year growth in shipments in the third quarter, which suggests the iPhone revenue upside the company reported for the quarter was in part due to volume growth.
