NEW DELHI (Daily Point) — Recent updates suggest that Tesla is on the brink of entering the Indian market as the government finalises regulations for the import of the American automaker’s electric vehicles.

According to sources, Tesla aims to set up a production unit in India within 24 months of its official entry, with a potential announcement at the upcoming Vibrant Gujarat Summit next year.

Several states, including Kerala, Tamil Nadu, Maharashtra, and Gujarat, are anticipated to vie for the opportunity to host Tesla’s production unit. The speculation is that Tesla will make a substantial investment of at least $2 billion, emphasizing a strong commitment to localization standards.