Tesla plans India push into energy storage market as it expands beyond cars

NEW DELHI: Tesla is preparing to enter India's industrial energy storage market, according to a job advertisement posted on its website, a move that would pit the electric vehicle giant against companies controlled by Mukesh Ambani and Gautam Adani as both deepen their investments in the sector amid India's shift towards cleaner power.

The new business venture would also mark Tesla's expansion in India beyond electric cars, which the company started selling in the country in August.

Job ad reveals market entry plans

Tesla's plans were revealed through a job advertisement on its website, which stated that the company is looking to hire a business development lead in India. The role, according to the listing, is to "develop and execute a comprehensive market expansion strategy for industrial energy storage solutions."

The advertisement further noted that the candidate would shape Tesla's entry into India for "utility-scale energy storage," though it did not provide further details on the scope or timeline of the initiative.

Tesla did not respond to a request for comment regarding its energy storage plans for India.

Megapack business already operational elsewhere

Tesla already operates a Megapack business in the United States and other markets, supplying large-scale energy storage systems for industrial and utility users. The expansion into India would represent the company's effort to replicate this model in one of the world's fastest-growing energy markets.

Competition from Ambani and Adani

Tesla's planned foray into India's energy storage sector would see it compete directly with some of the country's biggest conglomerates. Mukesh Ambani's Reliance and Gautam Adani's group also have ambitious plans in the energy storage space, positioning themselves as key players in India's transition to renewable energy sources.

India's growing emphasis on clean energy and the expansion of its electrical grid to accommodate renewable power sources have made the country an increasingly attractive destination for energy storage companies. The utility-scale energy storage market is expected to play a crucial role in managing the intermittent nature of solar and wind power as India scales up its renewable energy capacity.

Tesla's move to enter the Indian energy storage market signals the company's broader ambitions to establish itself as more than just an electric vehicle manufacturer in the country, diversifying its business interests in one of the world's largest and most dynamic economies.