Tesla to revisit India plans as Elon Musk confirms official trip later this year
- Earlier reports have stated that Tesla has sealed a deal to open its first showroom in Mumbai at Bandra Kurla Complex (BKC).
Tesla CEO Elon Musk's recent announcement on social media, after a conversation with Prime Minister Narendra Modi, has taken speculation about Tesla's eventual entry into the Indian automotive market to new heights. Musk has indicated a possible visit later this year, a step that could mark a significant turning point in the company's long-pending Indian plans. Taking to his social media platform X, he said “It was an honor to speak with PM Modi. I am looking forward to visiting India later this year!"
This possible visit comes at an important moment for Musk's several business ventures. Tesla is facing growing competition from rival electric vehicle makers such as BYD while also losing market share. The changing geopolitical situation, particularly with the increase in trade wars and Musk's obvious political inclination, has complicated matters further for Tesla, impacting brand equity within certain segments.
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It is clear that entering new markets is a priority. The ever-growing population of middle-class citizens in India and the current government incentives for clean energy presents a fantastic opportunity to enter the market. Tesla has had some challenges establishing a footprint in India due primarily to disagreements on import duties and local manufacturing commitments.
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Tesla: Recent developments and future outlook
The recent reduction of import tariffs on electric cars, with conditions based on local manufacturing investments, has also made the environment more conducive for Tesla. Earlier reports have stated that Tesla has sealed a deal to open its first showroom in Mumbai at Bandra Kurla Complex (BKC).
Additionally, Tesla is also in talks to finalize a second showroom in Delhi, which highlights its methodical approach to penetrate important metros. Musk's possible visit would act as a catalyst to address pending issues and finalize Tesla's entry plan.
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Recently the Tesla Model Y was spotted camouflaged on the Indian roads. This is the third time that the Model Y has been spotted while it was wearing thick camouflage. Tesla has also started hiring in India for multiple operations.
Model Y is expected to be the first model that Tesla will sell in India. This reasoning is valid, as SUVs currently represent the most popular body style globally. The Model Y offers the added benefit of increased ground clearance, which is essential for models intended for the Indian market, given the condition of the roads in the country. Previously, Tesla encountered numerous challenges with the earlier generation of the Model 3, primarily due to its insufficient ground clearance.
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