Hyundai will bring its electric SUV Kona to India next year, which will be the first true long-range electric vehicle in our country.
This isn't the first time Space X CEO has shown interest to enter the Indian market. The tech entrepreneur tweeted about its plans for India in response to a query about the company's service capabilities outside North America.
The company also said on Friday that 44 per cent of its third-quarter net profit was from previously undisclosed regulatory credits.
Still, in his most recent tweet, Musk outlined the company's long-term vision for expanding beyond its current biggest markets.More news: What we know so far from the midterm election results
The user had asked if Panasonic "will also be a partner of the China giga battery production", to which Musk said that Tesla plans to source cell production locally "most likely from several companies", including Panasonic. This is where the local assembly pointed out by Musk will make the products affordable. His tweed said, "hopefully, partial presence in India, Africa & South America end of next year, with broader expansion in 2020".
In June 2017, Musk had confirmed on Twitter that Tesla was "in discussions with the government of India".
The Model 3 is a central part of Tesla's plan to expand from a niche player in the luxury segment to a auto maker with broader appeal. While Tesla will set up auto production facilities in Europe and China, the company plans to set up battery manufacturing plants in every continent to keep the costs in line.