Tesla’s multi-billion-dollar camera module order is attracting the interest of a number of companies. These companies are currently bidding for the deal and we have the likes of Samsung and LG in the long list of bidders. The report out of South Korea claims that the two Korean manufacturing giants are bidding to win orders from Tesla. The report claims that LG Innotek, Samsung Electro-Mechanics, and many other companies are participating in the bidding. The bidding process will be complete in the first quarter of this year.
According to the reports, the Tesla billion-dollar camera module orders will be used for its Model S, Model X, Model 3, and Model Y. Tesla will be launching these models soon. Furthermore, camera orders for the production of the electric semi-truck and the electric pickup Cybertruck are available for bidders. These models are not yet in production.
However, it is important to note that Tesla’s 2022 orders will spill into some 2023 products. Thus, the deal is worth a whole lot of money. Usually, a Tesla electric vehicle uses eight (8) sets of camera modules. The most expensive cameras are in the front of the vehicle.
LG Innotek and Samsung Electro-Mechanics, which participated in the bidding this time, were the main suppliers of Tesla’s car camera modules before. Among the camera modules purchased by Tesla last year, LG Innotek supplied 60% – 70% while Samsung Electro-Mechanics supplied 30% – 40%. However, Samsung Electro-Mechanics is expected to receive more orders this year as Tesla expects to diversify suppliers to lower prices.
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Tesla India – Negotiations are in full gear
According to Elon Musk, Chief Executive Officer of Tesla, the company is putting things in place to enter the Indian market. On Thursday, he gave the reason why the company is yet to enter the Indian market. He claims that the company is facing a lot of “interactions with the government”. This basically means that Tesla and the Indian government are yet to reach an agreement.
Musk had expected the company to hit the Indian market in 2019, but it still hadn’t happened three years later. Earlier on Thursday, Musk said in response to a user who asked via Twitter when Tesla vehicles would be available in the Indian market said, “still working through a lot of challenges with the government”
Indian government wants “Made In India” cars
Negotiations between Musk’s Tesla and the Indian government have been going on for years. However, talks have stalled over issues such as building a local factory and import duties. There are reports that India’s import tariffs are as high as 100%. The Indian government has also asked the company to increase purchases in the local market and submit detailed production plans. Musk has called for lower tariffs so Tesla can sell imported cars at lower prices in India, where consumption levels are lower.