Tesla eyes India energy storage market as expansion moves beyond cars

Tesla is preparing to enter India’s industrial energy storage market, according to a job ad on its website, setting up competition with companies controlled by Mukesh Ambani and Gautam Adani as they step up investment in the sector while the grid shifts to cleaner power.

The move will also mark Tesla’s expansion in India beyond electric cars, which it started selling in August.

The company already operates a Megapack business in the US and other markets, supplying large-scale energy storage systems for industrial and utility users.

Tesla’s latest plan was revealed in a job ad on its website, which said it is looking to hire a business development lead in India to “develop and execute a comprehensive market expansion strategy for industrial energy storage solutions”.

The candidate will shape its entry into India for “utility-scale energy storage”, it added, without elaborating further.

Reuters is first to report Tesla’s plan. The company did not respond to a request for comment.

Ambani’s Reliance and Adani’s group also have ambitious plans for India’s energy storage sector.

India has set a target to reach 500 gigawatts (GW) of non-fossil fuel energy capacity by 2030, up from more than 262 GW at the end of 2025. It needs devices that can store energy during off-peak hours, stabilise the grid and reduce carbon emissions.

The government is encouraging companies to invest in storage systems by providing fiscal incentives and is also working on a national roadmap to enable firms to meet the targets.

(With inputs from Reuters)