10:51 AM EDT, 04/10/2024 (MT Newswires) -- Tesla (TSLA) is in preliminary talks with Reliance Industries for a joint venture to build an electric vehicle manufacturing facility in India, Hindu BusinessLine reported Wednesday, citing people it didn't identify.

The role of Indian conglomerate Reliance in the possible collaboration isn't clear yet, but it might provide a "significant hand" in establishing Tesla's manufacturing facility in the country, according to one of the people, the report said.

Senior officials of Tesla are expected to visit India to finalize the location and joint venture in a month, the report said.

Tesla and Reliance didn't immediately respond to requests for comment from MT Newswires.

Shares of Tesla fell 2.8% in recent trading Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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