Tesla Planning To Source Parts Worth $ 1.9 Billion From India: Minister

Commerce and Industry Minister Piyush Goyal said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector.

US-based electric vehicle maker Tesla is looking to source components worth around USD 1.9 billion this year against USD 1 billion in the last year, Commerce and Industry Minister Piyush Goyal said on Wednesday.

The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector.

"Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla. This year their target is nearly USD 1.7 billion or USD 1.9 billion what they mentioned," he said here at an annual session of ACMA.