Tesla Ready to Invest Up to $2 Bln to Build India Factory

Tesla (TSLA.O) is ready to invest up to $2 billion to set up a factory in India if the government cuts import duty on its vehicles to 15% for the first two years of operations.

The Elon Musk-led electric vehicle (EV) maker is willing to invest up to $500 million if the government approves the reduced duty for 12,000 vehicles and up to $2 billion if the concession is for 30,000 vehicles.

The government is examining the viability of Tesla's proposal to invest $2 billion but wants to reduce the number of cars imported on a lower duty, compared to Tesla's proposal.

Price Momentum
TSLA is trading near the top of its 52-week range and above its 200-day simple moving average.

What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.