An American multinational automotive and clean energy company Tesla is setting up a huge goal to land in the Indian market. According to the latest Reuters report, Tesla is planning to invest up to $2 billion to set up a factory in India. The deal somehow depends on the government import duty cuts on its vehicles to 15% for the first two years of operations.
Back in August the same source confirmed that India is working on a new EV policy to slash import taxes to as low as 15% - compared to the current 100% on cars priced above $40,000 and 70% for the rest.
Tesla Quick History
Tesla's headquartered is located in Austin, Texas. The company manufactures electric vehicles (cars and trucks), stationary battery energy storage devices from home to grid scale, solar panels and solar shingles, and related products and services. Tesla has become one of the world's most valuable companies and, as of 2023, is the world's most valuable automaker.
In 2022, the company led the battery electric vehicle market, with an 18% share. For your information, Tesla was incorporated back in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. The name is based on the electrical engineer Nikola Tesla.
Moving forward back in February 2004 with the largest shares of $6.5 million Elon Musk became the company's largest shareholder. He became CEO in 2008.
Tesla's first electric car
Tesla started its first electric car production in 2008 and named it the Roadster sports car. After that the company introduced the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, the Tesla Semi truck in 2022 and the Cybertruck light-duty pickup truck in 2023.
As per Wikipedia, Tesla sold the major units of its Model 3 plug-in electric car worldwide, and in June 2021 became the first electric car to sell 1 million units globally. In 2022, Tesla delivered around 1.31 million vehicles, a 40% increase over the previous year and cumulative sales totaled 4 million cars as of April 2023.
Tesla investment and price in India
Tesla is reportedly planning to bring its electric cars to India. The USA-based EV maker will be setting up a production unit in the country within a period of 24 months after its official entry, reports suggest. For now, the company hasn't made any official statement.
With the confirmation made, states like Kerala, Tamil Nadu, Maharashtra and Gujarat, are expected to be participating in the race to house the Tesla’s production unit. The EV giant Tesla is planning to invest at least USD 2 Billion to establish a production unit in the country with high standards of localisation for electric cars. Reports suggest that Tesla could locally source components worth USD 15 billion.
As per several reports, the first made-in-India electric vehicle of Tesla could cost Rs 17 lakh only. For reference, the top-spec trims of the Mahindra Scorpio-N - Z8L, costs Rs 20.02 lakh, ex-showroom.
Tesla Electric Cars Price in India
Telsa Model 3 Price in India (Expected) - Rs. 70.00 Lakh Tesla Model S (Expected) - Rs. 70.00 Lakh
Tesla App December 2023 updates
Tesla App trip planner feature now supports waypoints for multi-destination routing. Once you enter into location, you can now tap on 'Edit Trip' to add additional stops along the way. Trip Planner allows you to add up to four stops, and it'll automatically determine your route and needed charging stops along the way.
The Schedule section under 'Leave Now' has also received a minor update. You can now easily choose a departure or arrival tap without having to turn off the 'Leave Now' option.
