KEY HIGHLIGHTS
- Tesla, led by Elon Musk, set to introduce its most budget-friendly car in the Indian market
- The anticipated pricing for the Model Y Crossover in Germany is estimated to be around 25,000 Euros.
- Imports expected to begin next year
Tesla is in the final stages of negotiations with the Indian government to facilitate the import of its electric vehicles into the country, slated to commence in the upcoming year. Additionally, reports suggest that the American automaker is exploring the possibility of establishing a manufacturing plant within the next two years, and an official announcement is anticipated at the Vibrant Gujarat Global Summit scheduled for January 2024.
Tesla Cars In India From 2024?
Tesla is reportedly considering investments amounting to approximately $2 billion for the construction of a new plant in India, with states like Gujarat, Maharashtra, and Tamil Nadu being evaluated for their well-established infrastructure. As part of its strategy, Tesla aims to procure auto parts from India, with an estimated value reaching up to $15 billion. The company is also exploring the local manufacturing of batteries to reduce production costs. These plans are subject to change, and there has been no official statement from Tesla or its CEO, Elon Musk. Musk had previously indicated in June a "significant investment" in India and expressed a plan to visit the country in 2024.
Also, Read- Toyota Announces New Manufacturing Plant In India: 3rd In It's List
Strategy For Indian Market: Keeping Costs In Check
Tesla's strategic move to enter the Indian market aligns with its broader expansion plans into emerging markets, capitalizing on the rising demand for electric vehicles. Despite electric cars constituting a modest 1.3% of total passenger vehicle sales in India last year, Tesla aims to address challenges like high tariffs and limited charging infrastructure. Currently, Tesla does not directly import cars to India due to these tariffs. The upcoming local manufacturing is anticipated to make Tesla vehicles more competitive, potentially with prices as low as $20,000 (Rs. 16.65 lakhs), making electric cars more accessible to a broader audience.
In recent developments, Union Minister Piyush Goyal visited the Tesla factory in Fremont with a scheduled meeting with Elon Musk, which unfortunately didn't take place due to Musk's health. During the visit, Goyal engaged with top leadership and researchers at the Tesla factory. Elon Musk expressed assurance of a future meeting, emphasizing the mutual interest and significance of potential collaborations.
It is interesting to note that Tesla currently operates internationally with a wide portfolio of Tesla Model 3, Model Y, and more.
Verdict
Tesla cars entry into India has been a long time coming. While both the brand and the government kept coming to table for a fair deal for everybody, it couldn't get to much fruition. But now, the thing are looking very positive with the imports probably starting from next year only to be followed by a plant set-up soon after that. Also, If you are someone with a passion for engines mounted on wheels, you must join our Whatsapp Group Community of petrolheads to find out more exciting stuff about the Auto world.
Also, Read- India-Bound Hyundai Tucson Facelift Globally Breaks Cover: New Styling
