Tesla is going to begin its work in India by opening its first showroom in Mumbai around mid-July. Another one is also expected to open in Delhi during the same period
Tesla, the electric vehicle company headed by Elon Musk, is getting ready to open its first showroom in India by the middle of July. Recently, Lately, there’s been a lot of talk about the world’s largest electric car company stepping into the Indian market, and now, according to sources, Tesla is finally set to begin its sales and operations here within the next 2 to 3 weeks. The showrooms in Mumbai and Delhi will begin by selling the Model Y, which will be the first Tesla electric vehicle offered to customers in India. The initial batch of Model Y electric SUVs has been brought into India from Tesla’s manufacturing plant in China.
Along with a few units of the rear-wheel-drive Model Y, Tesla has also brought in some parts of its Supercharger network to India, which have been shipped from the US, China, and the Netherlands. In addition, spare parts, accessories, and merchandise have also been brought into the country to help Tesla begin its sales operations within the next month or so.
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Tesla Enters India After Policy Change and Talks With PM Modi
Tesla has been hesitant about entering the Indian market for a long time because of differences with the government, mainly about local production requirements and high import duties. Back in February this year, Tesla’s CEO Elon Musk had a meeting with Indian Prime Minister Narendra Modi in the United States. After that meeting, the Indian government introduced a new electric vehicle policy that lowered import duties. This policy offers reduced import taxes on the condition that the carmaker agrees to build a manufacturing plant in India within the next three years and begins making vehicles locally.
Documents obtained by Bloomberg show that five Tesla Model Y vehicles were shipped from the Shanghai factory and sent to Mumbai, India. The price of these electric cars is said to be around 2.77 million rupees, which is about $31,988. These SUVs have an import duty of roughly 2.1 million rupees applied to them. For your information, the Model Y holds the record as the best-selling electric car worldwide so far.
Tesla Model Y May Cost Around Rs 50 Lakh in India
In India, the price of the Tesla Model Y is expected to be close to $56,000, which is roughly Rs 49 lakh. That said, the final price will be fixed by Tesla nearer to the launch, but it’s expected to be around Rs 50 lakh (ex-showroom), give or take a little. In the US market, the Model Y is priced at $44,990, which comes to about Rs 39 lakh. After government subsidies and tax benefits, buyers in the US pay around $37,490, which is about Rs 32 lakh.
When it comes to India, the electric car market is still quite new and makes up just around 5 percent of the total passenger vehicle sales. But within the Indian market, premium electric models only make up about 2 percent of all new car sales. So, one of the biggest challenges for Tesla will be to price the Model Y reasonably and make it look like a good value for money to Indian customers.
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