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News on Medial
Tesla may head to India on incentive-paved road
Economic Times
·
1y ago
Medial
US electric automaker Tesla is reportedly close to setting up operations in India, as the government plans to extend concessional import duties on electric cars for 2-3 years. Tesla is willing to invest up to $2 billion if the Indian government offers reduced import duty of 15% on imported electric cars in the first two years of operation. The move aims to accelerate local manufacturing and bring down prices of electric vehicles through localisation. However, Indian automakers are cautious about any reduction in import duty, fearing an unfair advantage for Tesla.
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Silicon Road Ventures hires Anthill exec as head of India investments
VCCircle
·
3m ago
Medial
Silicon Road Ventures, a US-based early-stage venture capital firm, has appointed Deeksha Narendra Kumar as the Head of India Investments. Previously from Anthill Ventures, Kumar's hiring marks the firm's strategic move as it seeks to establish its presence in India. Silicon Road Ventures had been planning to initiate a four-month accelerator program in India since 2019, highlighting its ongoing commitment to expand in the Indian market.
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Tesla is running out of time to deliver on self-driving promises
Livemint
·
1y ago
Medial
Tesla is reportedly cutting 10% of its workforce and its head of powertrain and energy engineering is leaving the company. This aligns with a strategic shift indicating that Tesla is prioritizing the development of autonomous vehicles over rapid sales growth. CEO Elon Musk announced that the company will unveil a driverless Tesla or "robotaxi" on August 8th, signaling a focus on autonomous technology. The pivot to software sales may explain the job cuts as well. Clear data on Tesla's autonomous capabilities and progress is needed to gain investor trust and validate the company's strategic direction.
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Tesla Cars To Be Available In India Later This Year
Inc42
·
1y ago
Medial
Electric car maker Tesla has started production of right-hand drive cars in Germany for export to India later this year, according to sources. While it remains unclear which model Tesla plans to ship to India, the move is seen as part of the company’s efforts to reduce its dependence on China. The EV major also reportedly aims to make India a bigger sourcing hub, as well as build a charging network across the country. Last month, the Indian government reduced import tax rates on certain EVs, providing further incentive for Tesla’s entry into the market.
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Elon Musk Claims Tesla Employee's Fatal Crash Had Nothing to Do With Full-Self-Driving
Gizmodo
·
1y ago
Medial
Elon Musk disputes the Washington Post's report of a Tesla crash that potentially involved the Full-Self-Driving (FSD) feature. Musk claims the software was not even downloaded, contrary to what the report stated. The fatal crash occurred in 2022 near Denver, Colorado, involving a Tesla employee who was reportedly using FSD on a mountain road. However, both the driver and passenger were intoxicated at the time of the incident. The investigation into the crash is ongoing, and Colorado police could not access the car's data due to the intensity of the fire. Critics argue that FSD's experimental nature makes it risky for public road usage. Tesla and Musk have previously defended the technology as safer than human drivers.
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Grapevine: Tesla India head quits; BluSmart investors weigh biz revival
VCCircle
·
3m ago
Medial
Tesla India's country head, Prashanth Menon, has resigned after a nine-year tenure. His departure coincides with Tesla's preparations to introduce electric vehicles in India. Meanwhile, BluSmart's investors are contemplating business revival strategies.
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Tesla gets Maharashtra RTO nod to start show-room, sell its EVs
Economic Times
·
28d ago
Medial
Tesla has received approval from Maharashtra's Regional Transport Office (RTO) to open a showroom, display vehicles, provide test drives, and sell cars in India. The Andheri RTO granted a trade certificate, allowing Tesla to display and operate unregistered vehicles for road tests and other activities. Tesla's showroom will open in Mumbai's Bandra Kurla Complex, and its service center and warehouse will be located nearby, marking Tesla's official entry into the Indian market.
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Tesla CEO Elon Musk postpones India visit for unknown reasons: Report
Livemint
·
1y ago
Medial
The planned visit of Elon Musk, the CEO of Tesla, to India has been postponed for undisclosed reasons. It was reported that Musk's schedule may have clashed with another engagement. Musk had expressed his anticipation to meet with Prime Minister Narendra Modi in India. Tesla has been lobbying India to lower import taxes on electric vehicles as it considers setting up a factory in the country. There have also been talks of Tesla forming a joint venture with Reliance Industries to establish an EV facility in India. Additionally, Musk's satellite venture Starlink is awaiting approval for its license application in India.
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Tesla to showcase Cybertruck on China tour
Reuters
·
1y ago
Medial
Tesla China plans to launch a nationwide tour to showcase its Cybertruck pickup, targeting its second-largest market. The company hasn't announced specific dates for the tour yet. Tesla CEO Elon Musk mentioned the possibility of shipping some prototypes of the Cybertruck to China for display, despite the challenges of making the vehicle road-legal in the country. Unlike the US, pickups have been a niche product in China, as many cities, including Beijing, prohibit them from entering downtown areas. Tesla currently doesn't offer the Cybertruck for order on its Chinese website.
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Elon Musk congratulates Modi on election win: ‘Looking forward to…’
Livemint
·
1y ago
Medial
Elon Musk congratulated Indian Prime Minister Narendra Modi on his party's victory in the 2024 Lok Sabha Elections. Musk expressed his excitement to do "exciting work" in India and had previously delayed his visit due to Tesla obligations. Musk was expected to discuss the rollout of Full Self-Driving software and the possibility of establishing a new Tesla manufacturing facility in India. However, Tesla's focus on utilizing existing factories for affordable vehicles may delay investments in new factories in India and Mexico.
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Musk’s Tesla Inc. Sues Indian Battery Maker Tesla Power For Trademark Infringement
Inc42
·
1y ago
Medial
Tesla has filed a legal suit against Tesla Power India and its US-based entity in the Delhi High Court, alleging trademark infringement and unfair trade competition. Tesla claims that Tesla Power used its trademark 'TESLA' in promotional articles and announced its entry into the electric vehicle market, which is Tesla's core market. Tesla Power argues that it is primarily engaged in the business of lead acid batteries and has no intention to manufacture EVs or use the TESLA trademark. The next hearing is scheduled for May 22. Similar trademark infringement cases have been seen in India involving other companies.
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