Bloomberg: Musk Has Found A New Country For Tesla Sales
- 21.06.2025, 13:55
It's one of the biggest markets.
Tesla plans to open its first showrooms in India in July. The Ilon Musk-led company will begin official operations in the world's third-largest auto market, seeking to achieve growth amid falling sales in Europe and China.
This is according to Bloomberg.
The first batch of electric cars has already arrived in the country - they are rear-wheel-drive Model Y SUVs shipped from Tesla's Chinese factory.
Tesla plans to open its first showroom in Mumbai as early as mid-July, followed by New Delhi.
"The debut will end the long-running saga of Tesla's entry into India, a market Musk has long had his eye on but has been hesitant to enter due to disagreements over tariffs and local manufacturing," the publication said. - "The breakthrough in bringing Tesla to the Indian market comes after Musk met with Indian Prime Minister Narendra Modi in the U.S. in February."
According to documents seen by Bloomberg, five Model Y cars have already arrived in Mumbai from Tesla's Shanghai plant. The cars were declared at a price of 2.77 million rupees ($31,988) and were subject to an import duty of more than 2.1 million rupees - the duty is in line with India's 70 percent duty on fully assembled imported cars costing up to $40,000 plus additional fees, the documents show.
"The model is expected to go on sale for more than $56,000 dollars excluding taxes and insurance, though Tesla will determine the final price based on its margins and positioning strategy," Bloomberg writes - "By comparison, the price of this model in the U.S. excluding taxes is $44,990 and including tax credits is $37,490."
As reported, Tesla's first pickup truck did not fare well in the market. The Cybertruck arrived later than Ilon Musk promised and still lacks some of the features that made such an impression at the first unveiling.
In June, Sweden's largest national pension fund AP7 said it had added Ilon Musk's Tesla to its "blacklist" and sold all shares in the US electric car maker.
In April, Tesla opened a store in Saudi Arabia. In doing so, Ilon Musk ended a once bitter feud with one of the kingdom's most powerful men, Yasser Al-Rumayyan, head of the $925 billion Public Investment Fund (PIF).