Tesla is pursuing an agreement with Tata Sons’ power generation division, Tata Power, to set up charging infrastructure for electric vehicles which will be launching in the region. Tata Power‘s shares have increased by 5.5% after the release of this report. This is the highest closing amount ever since 9 June 2014 as the Palo Alto electric-car manufacturer, Tesla plans to import and sell its electric sedan model 3 in India.
According to government papers read by Reuters, Tesla will build the electric car production unit in the south of Indian Karnataka state. This is in line with Elon Musk’s vision for the world-wide use of electric cars. Many people are looking for the release of this new electric-powered vehicle in India and of course, Tata Power wants a piece in this huge potential deal.
Status of the Deal between Tesla and Tata Power:
But, the thing is that as of now, the deal between Tesla and Tata Power is still in its initial stage. There is no sign of any confirmation between the two and hence, we can say that there could be a chance that the deal can go sideways. For now, the reports don’t provide any confirmation. We all know about Elon Musk’s one-day gain of 25 billion USD and it is surely a fact that this man is determined to gain more.
While there are many things in the minds of the ones who are involved in the deal, electric-powered vehicle-makers in India will definitely start a new market. But, as of now, there are many practical things that need to be figured out. It is a big decision to be made in a matter of a few days by an organization as big as Tata Powers.
When asked for a comment from Tata Motors, the car marketing, and manufacturing of Tata Sons about deals with Tesla, the former had refuted the entire news. But, there are chances that the two giants will collaborate together for the implementation of Electric Vehicle Charging Infrastructures. Although, it could take a lot of time for either of these companies to come to a conclusion or to reveal a public statement.
As of now, Tesla and SpaceX are skyrocketing and Elon Musk is profiting as well. So, let’s hope for the best and have patience.