Indian auto parts makers are emerging as preferred suppliers to Tesla Inc. as it diversifies away from China, two people familiar with the development said, with the US electric car giant often willing to pay a higher price for the shift.
Tesla now sources a range of India-made components from small plastic parts and castings, to complex differential systems used in transmission, and wheel hubs. Industry data sourced by Mint showed that 30 component makers —including Indian firms and multinationals with manufacturing operations in India—exported parts worth $135-150 million to Tesla in 2022-23.
However, additional sales by Tier-2 and tier-3 suppliers, that is, suppliers who provide parts to direct suppliers, are likely to add to this figure.
Some of the biggest ones are Sona Comstar, the largest Indian supplier for Tesla, as well as Graziano Trasmissioni India Pvt. Ltd (DANA Graziano, a DANA group company), Tata AutoComp Systems Ltd, CISWW Engineering India Pvt. Ltd and Bharat Forge Ltd. Mint could not verify details of the suppliers’ business with Tesla, given their non-disclosure agreements with the US firm.
هذه القصة مأخوذة من طبعة November 17, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 17, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Reduction of energy costs in the telecom sector
With telecom infrastructure companies looking for newer ways to cut back on energy costs, battery restoration technology provides telecom infrastructure firms with a viable, economical and green solution for uninterrupted power supply
Skip cheese and sip wine in Switzerland
Beyond chocolates and cheese, there's another Swiss gem to discover — vineyards that have been passed down through the generations
Bankers aren't always frank about bank regulation
The 'world's banker' Jamie Dimon, CEO of JPMorgan Chase, speaks his mind even if it means taking swipes at US regulators.
Baku: A climate breakthrough looks depressingly bleak today
The success of fossil fuel-favouring politics threatens the planet
Global solidarity levies can play a vital role in our climate efforts
Solidarity taxes could support redistributive measures and optimize how we collectively tackle a great challenge of our times
Speak for the Earth: It's the least we should do
This year's Booker prize winner turns our gaze to the planet from orbit and reminds us of the climate disaster that looms. Can odes sung to Earth move the world to act in its defence?
Aim for an efficient carbon market right from the start
India's economy is projected to grow dramatically over the next few decades. In nominal terms, it may double in size by 2030. This is exciting, but it comes with a significant risk.
Why health insurers refuse to cover certain treatments
While 12 modern treatments are covered, many advanced procedures are yet to be included
Address economic distress with structural reforms and not doles
Cash transfers may offer short-term relief but raising worker incomes is the only lasting solution
FUNDING FOREIGN EDUCATION: SHOULD YOU SAVE OR BORROW?
Education financing needs vary, but early planning is key to building your desired corpus
