India’s EV sector still lacks competition, but entry from international automakers like Tesla will level the playing field, MG Motor India’s CEO Emeritus.

Tesla said on Tuesday that it will use its existing factories to build new and more affordable vehicles as early as late this year, leaving investments in new factories in Mexico and India unlikely in the near term.

Tesla, under the leadership of Elon Musk, on Tuesday revealed plans to utilize its existing factories for the production of new and more affordable vehicles, with potential production beginning as soon as the end of this year.