Airbound, a Bangalore-based drone startup founded by Naman Pushp at age 15 during the COVID-19 lockdown, has raised $8.65 million in seed funding. The round was led by Lachy Groom, co-founder of Physical Intelligence, with participation from Humba Ventures, Lightspeed Venture Partners, and senior leaders from Tesla, SpaceX, and Anduril....
Tesla in Talks to Set Up India Venture
Tesla CEO Elon Musk has signaled that his electric vehicle company is preparing to enter the Indian market, both in terms of vehicle sales and potentially manufacturing. In a recent interview, Musk stated that like other major nations, India should have access to electric vehicles, implying it is a natural...
India Lowers Import Taxes on EV Companies Who Invest $500 million
India lowered import taxes on certain electric vehicles (EVs) for carmakers that commit to investing at least $500 million and start manufacturing in the country within three years. This policy is a major win for Tesla, as it aligns with what the company has been lobbying for in India despite...
Reasons Companies Shift Supply Chains from China to India
India's infrastructure growth aims to attract foreign companies by providing a supportive business environment. This trend is expected to accelerate over the next five years as India closes the gap with China. Supply Chain Management Review spoke to Samir N. Kapadia, founder and CEO of India Index, who outlined six...
Tesla Plans to Build Battery Storage Facility in India
Tesla has discussed setting up a new electric vehicle factory in India with Prime Minister Modi, and offered that it will manufacture a car priced at $24,000 according to media reports The company also plans to make and sell battery storage systems in India and has submitted a proposal to...
Tesla Expresses Interest in Setting Up a Plant in India
Subsequent to a proposal from Tesla, which is mulling an entry into India's automotive market, the country's commerce ministry is working on a new electric vehicle policy that might slash import taxes for automakers who commit to some local manufacturing, reports Reuters. The policy being considered may allow automakers to...