Chennai-based automobile manufacturer Ashok Leyland has invited Tesla for a partnership to help Elon Musk bring the Tesla brand of electric vehicles to India.
Citing Venkatesh Natarajan, senior vice president and chief digital officer of Ashok Leyland, a Livemint report said that the company is open to Musk’s offer. However, according to the senior executive, multiple agencies will be involved in this process.
Owned by Hinduja Group, Ashok Leyland had reported a revenue of INR 6,325 Cr in Q3 of FY 2018-19. In 2017, the automobile company had also revealed its plans to invest $61.5 million-$77 million (₹400 crore – ₹500 crore) into its electric vehicle business over the next three to five years.
This development comes in after Elon Musk expressed his interest in expanding its operation in India this year or definitely by next year. In March, Musk has tweeted, “would love to be in India this year, in not, then definitely by next!”.
Elon Musk has been attempting to enter the Indian market since a long time however has not been able to reach the goal.
Prior to this, in November 2018, Musk had hinted that his company has plans to establish a ‘partial presence’ in India, Africa, and South America by the end of next year with an aim to expand further in 2020.