Tata Group Emerges Major Supplier To Testa Exporting $2 Bn Worth Of Components In FY24

(MENAFN- KNN India) New Delhi, Mar 21 (KNN) Tata Group companies, including Tata AutoComp and Tata Consultancy Services (TCS), have emerged as key suppliers to Tesla, contributing approximately USD 2 billion worth of components in FY24.

With Tesla exploring manufacturing opportunities in India, the partnership between the American electric vehicle giant and the Indian conglomerate is set to deepen further.

Several Tata Group entities-Tata AutoComp, Tata Technologies, and Tata Electronics-have secured global agreements with Tesla, cementing their positions within its supply chain.

These companies provide essential automotive components such as castings, forgings, electronics, and fabrication items.

Tesla is currently in discussions with Indian states and suppliers about setting up manufacturing operations in the country. As part of its strategy, Tesla has initiated conversations with existing suppliers regarding the establishment of facilities near potential manufacturing sites.

“Tesla is, in a way, readying the supplier base in India,” an industry source told ET.“Once Tesla starts manufacturing here, Indian suppliers will see significant sourcing opportunities.”

Senior procurement executives from Tesla have reportedly engaged in meetings with numerous suppliers to explore further collaboration.

These discussions indicate Tesla's commitment to expanding its supply ecosystem in India, leveraging the robust manufacturing capabilities of domestic suppliers.

Should Tesla finalise its plans to manufacture in India, Tata Group companies are expected to play a crucial role in supporting its operations.

This development aligns with India's broader push to become a global hub for electric vehicle manufacturing, potentially paving the way for significant investments and job creation in the sector.

(KNN Bureau)

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