Elon Musk-run Tesla is reportedly planning to build a factory for battery storage in India and has submitted a proposal for the same to the government.
According to a report in Reuters, citing sources, the electric car-maker proposed supporting the country’s battery storage capabilities with its “Powerwall” during recent meetings.
Powerwall is an integrated battery system that stores solar energy for backup protection when the grid goes down.
The system detects outages, powers your home and electric vehicle with backup energy and automatically recharges with sunlight to keep appliances running for days.
The government may help Tesla create a “fair business model for the company by offering subsidies to those purchasing such products”, the report mentioned.
According to Tesla, Powerwall is a compact home battery that reduces your reliance on the grid by storing your solar energy for use when the sun isn’t shining.
“You can add additional Powerwall units to your system to reduce your impact further and better prepare your home for power outages,” it says.
Musk is finally aiming to build a Tesla supply system in India. The electric vehicle major is planning to source automobile parts worth up to $1.9 billion this year from India, Commerce Minister Piyush Goyal said this month.
The imports will be around double as compared to auto parts worth $1 billion imported by Tesla from India last year, Goyal said while addressing the annual convention of Automotive Component Manufacturers Association (ACMA). The minister said that last year, Tesla had already bought $1 billion worth of components from India and this year their target is $1.7-$1.9 billion.
Goyal’s statement came after reports said that the Musk-led company has held talks with the government, and is exploring the possibility of bringing its auto parts and electronics chain to the country.