The Tesla Model 3 starts at $40,240 and that’s far from affordable for many consumers. However, the company is reportedly gearing up for talks focused on an all-new car that could retail for as little as $24,000.
Citing a source, Reuters is reporting that Tesla representatives will meet with India’s commerce minister to discuss the possibility of building a plant in the country. That facility would reportedly build the affordable EV for both local and export markets.
Little is known about the car at this point, but the publication reports Tesla has had its eye on India for awhile. In particular, executives reportedly traveled to the country in May to have discussions with officials about building batteries and vehicles in the country.
More: Tesla Said To Be In Talks About New Plant In India
It appears the latest round of talks are a continuation of those earlier discussions, but they’ll be at a higher level given the reported involvement of commerce minister Piyush Goyal. While details are limited, it’s believed the upcoming talks will be focused on setting up a supply chain and land for a factory.
It remains unclear if the affordable EV will eventually be built at other factories, but Reuters noted the company is building a plant in Mexico that will make vehicles on a “lower-cost, high-volume platform.”
Tesla CEO Elon Musk has been talking about an entry-level model for years and has previously suggested it will be “used almost entirely in autonomous mode.” Of course, he says a lot of things that don’t pan out.
