After India, Turkey and Saudi Arabia tried to woo Elon Musk to open a Tesla factory

Tesla has become a hot property and it seems many countries are trying to woo the American auto giant to set up facilities. Many Indian states have also issued open invitations to Tesla to set up a factory. In the past few days two more countries have joined the list: Saudi Arabia and Turkey.

Turkey: During a live session with Elon Musk, Turkish President Tayyip Erdogan made a direct appeal to the billionaire on Monday, urging him to consider establishing a Tesla manufacturing plant within Turkey's borders. Musk confirmed that many Tesla suppliers are Turkish and the country is an important candidate for 

Saudi Arabia: In a simultaneous development, the Wall Street Journal reported that Saudi Arabia has initiated preliminary discussions with Tesla about the possibility of setting up manufacturing facilities within the Kingdom. This signals Saudi Arabia's ambition to become a significant player in the electric vehicle market as it plans to gradually move away from its oil-centered economy. However, Musk categorically denied the report calling it false.

Indonesia: In Southeast Asia, Indonesia has been actively courting Tesla's involvement in battery materials manufacturing. The country's rich reserves of nickel, crucial for EV batteries, have piqued Tesla's interest. While Tesla's CEO, Elon Musk, is not considering a car manufacturing plant in Indonesia, he has expressed intentions to invest significantly in materials for lithium batteries. Indonesia anticipates a major investment announcement from Tesla in the coming months.

India: Tesla's interest in India has gained momentum, with suspected plans to build a factory for producing affordable EVs for both the local market and international export. Some reports even suggested that the Indian government is contemplating reducing import taxes for EV manufacturers that commit to local production.

The proposed reduction in import duty for EVs, from 100% to 15%, would be contingent on manufacturers producing at least 40% of their vehicles locally. Tesla's intentions include crafting a budget-friendly EV, priced around Rs 20 lakh ($24,000), specifically tailored for the Indian market.

Tesla's entry into the Indian market with an affordable EV priced at approximately Rs 20 lakh ($24,000) could be a game-changer, undercutting the cost of its current lowest-priced offering, the Model 3 sedan, available for just over $32,200 (Rs 26.32 lakh) in China.

Mexico: Beyond Asia, Tesla is making substantial investments in Mexico's northern border state of Nuevo Leon. The company, along with its suppliers, is set to invest $15 billion over the next two years in this facility, tripling the previously announced amount.

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