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News on Medial
Tesla Pulls Into India
Inc42
·
1y ago
Medial
Tesla is set to make its long-awaited entry into the Indian market this year, signaling a new phase of growth for the country's electric vehicle (EV) industry. Reports suggest that Tesla is preparing for its first major shipment to India and is also exploring options for setting up a manufacturing plant in the country. The move comes after the Indian government approved a new EV policy, which includes lowering import duties for EV manufacturers and setting localisation targets. Tesla's entry is expected to accelerate the growth of the Indian EV market, which has so far been dominated by two-wheelers and three-wheelers.
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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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Elon Musk’s Tesla pulls back on India push, officials cool hopes as EV maker faces global pressures, says report | Mint
Livemint
·
1y ago
Medial
Indian officials have reportedly stated that they no longer expect Tesla to establish a production unit in the country, as there has been no further contact from the electric vehicle manufacturer. This comes after Elon Musk postponed his visit to India earlier this year. The Indian government has been made aware of Tesla's financial issues, and the company has no plans to invest further in India. The country is now looking towards domestic automakers to boost electric vehicle production. India's EV market is still in its early stages, with limited adoption due to high upfront costs and a lack of charging infrastructure.
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Elon Musk's Tesla may launch its most affordable car in India after Germany
Livemint
·
1y ago
Medial
Tesla, the electric car company led by billionaire Elon Musk, is set to launch its most affordable model, a two-door car, in Germany. According to sources, the same model will also be introduced in India. While Tesla has not made an official announcement about its entry into the Indian market, reports suggest that imports of Tesla models will commence from 2024. The first model to be made available in India is expected to be the Model Y crossover. Tesla is reportedly planning to source components worth billions of dollars from India in the coming years.
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India commerce minister to meet Tesla's Musk amid market entry talks
Reuters
·
1y ago
Medial
Indian Commerce Minister Piyush Goyal is set to meet with Tesla CEO Elon Musk in the United States to advance Tesla's entry into the South Asian market. Discussions will include Tesla's plans for an Indian factory and manufacturing a $24,000 car locally. They will also address the possibility of India reducing import taxes on electric vehicles (EVs) for automakers that commit to local manufacturing. This meeting aims to ensure talks are progressing favorably between India and Tesla.
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India prepares for Musk's arrival: Space and EV industry expected to boost
Livemint
·
1y ago
Medial
Tesla CEO Elon Musk's visit to India has garnered praise from Lt. Gen. AK Bhatt (Retd.), Director General of the Indian Space Association. Lt. Gen. Bhatt commended Musk for his contributions to disruptive technologies, particularly in the space exploration field. While Musk's visit primarily focuses on Tesla and electric vehicles, Lt. Gen. Bhatt emphasized the potential for domestic manufacturing, job creation, and the introduction of advanced automotive technology in India. Stakeholders anticipate the bolstering of India's EV ecosystem and the advancement of sustainable mobility solutions with Tesla's potential entry into the Indian market. A government official suggests that Musk may announce Tesla's entry into India after meeting with Prime Minister Narendra Modi on April 22.
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Delhi High Court to hear Tesla trademark dispute next in April 2025 as mediation continues | Company Business News
Livemint
·
8m ago
Medial
The Delhi High Court has postponed the trademark infringement case between Tesla Inc and Tesla Power India Pvt Ltd to April 2025 to allow for ongoing mediation. Tesla Inc filed the lawsuit accusing Tesla Power India of trademark infringement and misleading customers. The court had previously prohibited Tesla Power from promoting and selling products with the Tesla trademark. Tesla Power has stated that it has instructed its partners to remove the Tesla logo from electric scooters. Tesla Inc argues that Tesla Power has continued to sell scooters with the Tesla logo and misled consumers.
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Musk's Tesla, Starlink entry to India be boosted by Trump: Report
Inshorts
·
9m ago
Medial
Elon Musk's plans about Tesla and Starlink's entry into India may get a boost with newly-elected US President Donald Trump's support, a report said. Trump's influence could ease the regulatory hurdles that the world's richest man faces in India, the report added. Notably, Musk has actively endorsed Trump in the elections.
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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 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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Instamojo pulls the plug on payment biz
Entrackr
·
1y ago
Medial
Instamojo, an Indian payment aggregator, has discontinued its payments business after its license application was rejected by the Reserve Bank of India (RBI). The RBI cited Instamojo's failure to meet eligibility criteria for the rejection. The company has now partnered with licensed payment aggregators for its aggregator and payouts function. It plans to reapply for the license in the next financial year. Despite the shutdown of its payments business, Instamojo aims to remain profitable in FY24 through its transition to a full-stack commerce enabling platform for D2C businesses.
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