Tesla's Entry into India:
The anticipation surrounding Tesla, the electric car company led by the world's wealthiest entrepreneur, Elon Musk, is reaching its peak in the Indian market. Recent reports highlight that the wait is nearly over, with the American electric car giant finalizing both location and area for its Indian showroom. In fact, Tesla has leased approximately 4,000 square feet for its inaugural showroom in the country.
According to a TOI report, citing property market sources, Tesla has sealed a deal to launch its first showroom in Mumbai's prestigious Bandra Kurla Complex (BKC). The lease involves a commercial tower's ground floor, covering 4,000 square feet, at a monthly rent of 900 rupees per square foot, amounting to roughly 3.5 million rupees monthly.
The report reveals Tesla has secured this space for a five-year duration, aiming to showcase a broad range of vehicles. If all goes smoothly, car sales could kick off by April. Besides Mumbai, Tesla is eyeing Delhi to set up another showroom, with potential locations being explored in Aerocity. However, official confirmation from the company is still pending.
Source: aajtak
The Meeting of PM Modi and Musk:
A few weeks back, during India's Prime Minister Narendra Modi's U.S. visit, he met with Elon Musk. Subsequently, Tesla announced openings for various positions across cities such as Delhi, Mumbai, and Pune on its website, seeking applications for 13 roles.
With news of the showroom finalization, it's becoming evident that Tesla is poised to launch cars in India soon. Reports also suggest potential changes in India's electric vehicle policy, reducing custom duties on imported cars to 15%. Tesla stands to benefit significantly, allowing it to offer its cars in India at more competitive prices.
Trump Displeased with Musk...
While enthusiasm surrounds Tesla's foray into India, former U.S. President Donald Trump is less than thrilled with the plan. During a joint interview on Fox News with Tesla CEO Elon Musk, Trump voiced his disapproval of Tesla establishing a factory in India to dodge tariffs, branding it "unfair" to the U.S. He also criticized the high tariffs imposed by India on cars amid Modi's recent U.S. visit.
