Tesla (TSLA) to discuss factory for $24,000 car with Indian commerce minister

Tesla could be working on a $24,000 EV, according to a new report.


While electric vehicles may have a reputation for being pricier than their gas-powered counterparts, EV manufacturers have been making strides to provide more cost-efficient options for consumers. This includes Tesla, which remains the leading manufacturer of electric vehicles despite increased efforts from legacy auto companies. Tesla has expressed a desire to provide cheaper EV options, and the company may be working on a car that costs as low as $24,000.

Word of Tesla’s new $24,000 vehicle comes from a recent Reuters report. According to the outlet, sources have indicated that representatives of Tesla have met with the commerce minister of India. During the meeting, the two sides discussed a potential new factory, where Tesla would primarily manufacture the alleged new car, which would be priced at $24,000. The hope would be to distribute the majority of these vehicles locally.

A red and black Model 3 Tesla EV.

Source: Tesla

A potential Tesla factory in India would be a pretty huge move for the company in its effort to get more EVs on the road around the world. Earlier this year, Tesla CEO Elon Musk met with India Prime Minister Narendra Modi, stating that the EV company would be in India "as soon as humanly possible.” Earlier this year, Tesla broke ground on a new gigafactory in Mexico.

The prospect of Tesla opening a new factory in India is quite fascinating, and the idea of the company introducing a $24,000 EV is even more so. We’ll be watching closely for an official update from Tesla, as the company declined to comment on the Reuters report. In other Elon Musk-adjacent news, Twitter officially transitioned its branding to X earlier today, sparking discussions and debates over the future of the social media platform.

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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