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Tesla’s Entry Into India Will Be ‘Natural Progression’: Elon Musk

Inc42 · 1y ago

Tesla’s Entry Into India Will Be ‘Natural Progression’: Elon Musk

Electric vehicle manufacturer Tesla is planning to enter the Indian market by setting up a $2 billion manufacturing unit. The company's CEO, Elon Musk, has expressed the belief that India, as the most populous country in the world, should have electric cars. A team from Tesla is expected to visit India to scout for a suitable location for the manufacturing facility, which is likely to be operational in two years. Tesla also plans to produce right-hand drive cars at its plant in Germany for export to India. This move comes as Tesla faces slowing EV demand in the US and China.

Related News

ETtech explainer: How a Modi-Musk meeting supercharged Tesla’s India plans

Economic Times

Economic Times · 2m ago

ETtech explainer: How a Modi-Musk meeting supercharged Tesla’s India plans

Electric vehicle giant Tesla has accelerated plans for its India entry following a meeting between CEO Elon Musk and Indian Prime Minister Narendra Modi in the U.S. Concerns about steep import duties had previously stalled Tesla’s Indian market entry. However, after Musk and Modi discussed various issues, including reducing tariffs on imported electric vehicles, Tesla began building its team in India, securing showroom space, and engaging with local suppliers to alter its supply chain strategy.

Elon Musk's Tesla may launch its most affordable car in India after Germany

Livemint

Livemint · 1y ago

Elon Musk's Tesla may launch its most affordable car in India after Germany

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.

Elon Musk may announce Tesla's entry in India after meet with PM Modi: Report

Livemint

Livemint · 1y ago

Elon Musk may announce Tesla's entry in India after meet with PM Modi: Report

According to a senior government official, entrepreneur Elon Musk is expected to announce Tesla's entry into the Indian market following a meeting with Prime Minister Narendra Modi on April 22. While the announcement won't be site-specific, it will signal Tesla's intention to enter the market. Musk confirmed his visit to India earlier this month and a press release and video are expected to be released after his interaction with the prime minister. Tesla has been lobbying the Indian government to lower import taxes on electric vehicles as it explores the possibility of setting up a factory in the country.

Musk's Tesla, Starlink entry to India be boosted by Trump: Report

Inshorts · 8m ago

Musk's Tesla, Starlink entry to India be boosted by Trump: Report

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.

India commerce minister to meet Tesla's Musk amid market entry talks

Reuters · 1y ago

India commerce minister to meet Tesla's Musk amid market entry talks

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.

India prepares for Musk's arrival: Space and EV industry expected to boost

Livemint

Livemint · 1y ago

India prepares for Musk's arrival: Space and EV industry expected to boost

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.

Five takeaways from Tesla’s robotaxi show

Livemint

Livemint · 9m ago

Five takeaways from Tesla’s robotaxi show

- Tesla unveiled its new fully autonomous cars, the Cybercab and Robovan, which will be used for ride-sharing and compete with Waymo, Cruise, Uber, and Lyft. - The Cybercab will be priced under $30,000, making it more affordable than similar vehicles on the market. - Tesla plans to deploy a "fully autonomous" version of its driver-assistance system, Full Self Driving, in Texas and California next year, with further expansion based on regulatory approval. - Elon Musk envisions a future where self-driving cars not only transport people but also perform various other tasks, leading to an "age of abundance." - Few new details were provided regarding Tesla's business model for driverless taxis, leaving questions about revenue projections and regulatory challenges unanswered.

Elon Musk’s Tesla to set up first India showroom in Mumbai’s BKC

YourStory

YourStory · 4m ago

Elon Musk’s Tesla to set up first India showroom in Mumbai’s BKC

Tesla is set to open its first showroom in India, having leased a 4,000-sq ft space in Mumbai's Bandra Kurla Complex. The company, led by Elon Musk, will pay over Rs 35 lakh monthly rent, with annual increments. The showroom, near India's first Apple store, hints at future plans for local manufacturing. The lease, secured from Univco Properties, lasts five years with a significant security deposit, marking Tesla's entry into the Indian market.

How Elon Musk is reinventing Tesla’s strategy

Livemint

Livemint · 1m ago

How Elon Musk is reinventing Tesla’s strategy

Elon Musk is shifting Tesla’s strategy by integrating nascent AI technology into its business model, moving away from the company’s original approach of using off-the-shelf technology for electric cars. Tesla, initially founded on the concept that electric vehicles were feasible through combining existing technologies in innovative ways, is now betting on becoming a robot company. This shift is transforming Tesla’s operational and strategic focus, aligning it more closely with cutting-edge technological advancements.

Musk courts Chinese officials seeking approval for Tesla’s self-driving tech

Livemint

Livemint · 1y ago

Musk courts Chinese officials seeking approval for Tesla’s self-driving tech

Tesla CEO Elon Musk met with senior Chinese officials in Beijing to seek approval for introducing the company's advanced driver-assistance technology in the Chinese market. Musk aims to persuade regulators to approve Tesla's Full Self-Driving (FSD) feature for Chinese drivers. Tesla has already opened FSD for subscription in China but faces restrictions on data collection and transfer. Failure to gain approval for FSD could impact Tesla's position in China's electric vehicle market, where competition from local brands is strong. Tesla is also facing challenges globally, including a recent investigation by the National Highway Traffic Safety Administration into its driver-assist system.

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