Tesla, led by billionaire Elon Musk, is making strides in entering the Indian market.
The company has secured a showroom in Mumbai’s Bandra Kurla Complex, covering 4,000 square feet with a high monthly rent of ₹35 lakh.
Tesla is also exploring a store in Delhi’s Aerocity, a prime location near the international airport.
The Indian government recently reduced import duties on premium electric vehicles (EVs) from 110% to 15%, making Tesla’s entry more feasible.
The estimated price of a Tesla Model 3 in India is ₹35-40 lakh, including road tax and insurance. While this pricing is higher than local EV models, experts believe it won’t disrupt the market significantly.
However, Tesla could challenge Indian automakers if it launches a lower-priced model below ₹25 lakh.
Mahindra’s recent stock dip reflects concerns about Tesla gaining a foothold. With job postings in Mumbai and Pune, Tesla’s India entry is progressing rapidly.
