Tesla Finally coming to India? 🇮🇳🇮🇳

This picture of Elon Musk meeting PM Modi went viral recently.

There were all sorts of reactions to it, but for me, the most interesting thing is that Tesla is finally arriving in India.

Just three days after this meeting, Tesla posted ‘job openings’ for its Mumbai office.

And my question is, why is India important for Tesla?

Well, to begin with, their sales are slowing down around the world, and their stock price is down 25% since December.

In China, which is Tesla’s second biggest market after the US, it's getting hammered by BYD. Last month for eg, BYD sold 4 times the cars compared to Tesla.

And so the company needs a new big market outside the US, where it can drive its next phase of growth.

And that market could be India.

India’s EV space is still in a very early stage, only 2.4% of cars sold last year were electric.

And now that India has reduced Tariffs on high-end cars, Tesla will have a fair fight.

Let me know what you think of Tesla’s entry into India. Can it succeed like Apple did with phones or will it go the Ford way, and not find a product market fit?

[TheEncounterThunderBolt]

BYD cars are quite good, affordable and Premium.

[praneethrayala]

Honestly we don't want tesla bruh

[peanutbutterjelly]

Correction - the Customs Duty on imported cars has *technically* not reduced. Earlier, the Effective Customs Duty comprised of 100% Basic Customs Duty(BCD) and 10% Social Welfare Surcharge(SWS), in total 110%. Now, the BCD has been reduced to 70%, SWS has been removed and Agriculture Infrastructure and Development Cess(AIDC) of 40% has been introduced. So, it remains the same at 110%.

[HavishG]

But even then i don't expect a lot of Tesla Sales from India. Like i know there are ton of millionaire and billionaires in India but even then I don't think that morw than 10k units would be sold in it's first year. and also if you put the total investment Tesla would make in india, it doesn't makes sense for Tesla to enter the Indian market.

[rogerganga]

Elon is under pressure to sell Tesla to India. The sales in Europe is dropped by 40%. It's best to stick to Indian EVs

[AnkitKumarMaurya-uukr]

I want only tata ev doesn't want Tesla

[viralmehta]

Tesla should manufacture in India fully only then it will be a success and Indian environment is different compared with China USA and even europe tesla should make for India and its geography

[dnelson]

Tesla is sueing customers who file suits or complain.

[barryobrien]

Tesla coming again. Last time TN already had land set aside. A couple of employees means nothing other than fooling the media. Until they build hyper chargers and service centers, there is no reason to get excited

[ShivaShankaran-cufw]

Why don't we encourage our own startups instead of insisting tesla to come to India? If they come and establish here well enough, then they will have enough muscle to crush startups, and who knows existing Indian eV giants like TATA and Mahindra