Tesla reportedly in talks to set up India venture
By Steve Goldstein
Tesla is in talks with Reliance Industries to set up manufacturing in India, according to a published report.
The Hindu BusinessLine cited a person familiar with the situation as saying talks are at initial stages and have been ongoing for a month. Tesla (TSLA) may pick a site in Maharashtra, which is bordered by the Arabian Sea, as it is looking for a site suitable both for domestic and export purposes, the report said. The report added Tesla has earmarked $2 billion for its India plans.
The report added that the talks with Reliance (IN:500325) are not exclusive.
Tesla CEO Elon Musk has already stated his desire to provide Tesla vehicles in India.
Tesla shares rose 1% in premarket trade. The stock has dropped 28% this year, making it the worst performing of the so-called Magnificent Seven tech giants.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
04-10-24 0528ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
After Earnings, Is Tesla Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is GE Aerospace Stock a Buy, a Sell, or Fairly Valued?
-
3 Good Stocks to Buy with Your Tax Refund in 2024 (Or with Any Extra Money)
-
SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs
-
Tesla: Full Self-Driving Approval In China Supports Our View for Deliveries Growth In 2024
-
Philips Earnings: Firm Reaches $1.1 Billion Settlement Agreement
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track