Tesla is looking for a place for entry in India and can launch the model 3. Its price can be Rs 40 lakhs and the competition will be from byd seal.
Tesla model Y can be the company's first car in India.
Highlights
The price of Tesla Model 3 can be Rs 40 lakh.
Tesla Model 3 will compete with byd seal.
The range of Tesla Model 3 will be 584 km.
New Delhi. Tesla is constantly in the headlines after the entry in India is confirmed. The government has recently reduced basic import duty on foreign cars and bikes. After this, the path of Tesla's entry has been cleared. Tesla is looking for a place for its factory to start its operation in India. The company can first launch the Tesla Model 3 in India, however, the big question is how much it will cost in India and who will compete with it.
There has been a lot of debate on whether cars will be made in India or they will be imported. Earlier, Tesla was asked to make cars in India if they wanted to go to one of the world's largest automotive markets.
Price with tax Now, the Tesla Model 3 in the US is priced at $ 29,990 (Rs 25.99 lakh). If the company brought it to India, then it would cost Rs 29.79 lakh-here we are considering import duty 15 % and this will be an estimated ex-showroom price. Now if the tax is added, then this price will increase rapidly to Rs 40 lakh, which will keep it close to the byd seal, which is on-road price of Rs 43 lakh.
Tesla's range As it has been said, when the Tesla Model 3 will be brought to India, it will compete with BYD seal which is the product of China. BYD is the largest EV seller brand in the world and comes with a seal -base variant – 61.44 kWh battery pack which offers a range of 510 km. Now the Tesla Model 3 base variant gets a 57.5 kwh battery pack with a range of 584 km.
Location:
New Delhi,Delhi
First Published:
February 25, 2025, 17:43 IST
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How much will the price of Tesla car be in India, understand tax mathematics
New Ev Policy: Due to the new EV policy, the shares of Tata Motors, Mahindra & Mahindra and Hyundai Motor India declined by 6%. Preparations for Tesla's entry into India feared to increase competition for domestic companies …Read more
Highlights
Tata Motors, M&M, Hyundai shares fall by 6%
New EV policy feared to increase competition for domestic companies
Stock market stirred by Tesla's preparation for admission to India
New ev policy: On 21 February, Tata Motors, Mahindra & Mahindra (M&M), and Hyundai Motor India shares saw a decline of up to 6%. This decline has taken place by the government amid discussion of relaxation in electric vehicles (EV) import rules. This step can make it easier for foreign companies to enter the Indian market, due to which there is a possibility of increasing competition for domestic automakers. Preparations for entry of global companies like Tesla into India have given this discussion further warm.
Mahindra & Mahindra shares saw the biggest decline in about 7 months, which reached ₹ 2,653. Tata Motors shares fell 2% to ₹ 676 and Hyundai Motor India shares fell 2.5% to ₹ 1,875. This decline is believed to be because Tesla has started fast efforts to sell his cars in India.
According to Moneycontrol report, Alan Musk's Tesla Inc. can enter the Indian market through direct imports, not through local production. To facilitate Tesla's entry into India, the government is considering a decrease in EV import duty. Apart from this, extensive exemption can also be given in EV import rules.
Change in import duty The government has reduced basic custom duty (BCD) to 70 percent on fully prepared electric vehicles priced more than $ 40,000. However, an additional 40 percent of the Agriculture Infrastructure and Development Cess (AIDC) has been imposed. 10 percent of Social Welfare Surcharge (SWS) is exempted, resulting in an effective import duty for electric vehicles above this price point to 110 percent. The import duty for electric vehicles priced below $ 40,000 remains at 70 percent.
Reacts in the stock market After this news, the Nifty Auto Index saw a decline of 2.5%, which reached 21,534 points. The decline in shares of major companies like Tata Motors, M&M, Hyundai Motor India, Maruti Suzuki and Bajaj Auto affected the index. The Nifty Auto Index has seen a decline of about 6% from the beginning of this year.
Possible changes in electric vehicle policy have shaken the Indian automobile sector. The entry of global companies like Tesla will increase competition in the Indian market, but it will also be a big challenge for domestic companies. This policy of the government is an important step towards making India a major player in the global EV market.
Location:
New Delhi,New Delhi,Delhi
First Published:
February 21, 2025, 12:12 IST
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Auto industry, Tata Motors, M&M shares panic due to the news of Tesla's arrival
Tesla in India: Tesla plans to set up an electric vehicle plant in Maharashtra and is exploring the possibility of cooperation with Tata Motors.
Highlights
Tesla is planning to set up an EV plant in Maharashtra.
There is a possibility of cooperation between Tesla and Tata Motors.
Tesla has announced 13 new jobs in India.
Tesla in India: Tesla's electric cars may soon be seen making a splash on the streets of India. Alan Musk -led Tesla has taken steps towards setting up its electric vehicle (EV) manufacturing unit in India. Maharashtra has emerged as Tesla's first choice for this project. Also, discussions of possible cooperation with Tata Motors are also in full swing. This step is indicating the beginning of a new era in the EV market of India.
Tesla has started searching for land to set up its electric vehicle (EV) manufacturing unit in India, and Maharashtra has emerged as the first option for this. According to a report by The Economic Times, Tesla has also started talks with Tata Motors officials for possible cooperation. This development has come to light after Allen Musk's meeting in America recently with Prime Minister Narendra Modi. According to the report, Tesla is demanding incentives related to policy like import duty on EV to make its entry easier in the Indian market.
Why Maharashtra is the first choice of Tesla? The city of Pune in Maharashtra is already an important center for Tesla, where an office and several suppliers of the company are present. Government officials have proposed potential sites in Chakan and Chikhali, which are close to Pune and are known as major automotive hubs. Mercedes-Benz, Tata Motors, Mahindra & Mahindra, Volkswagen and Bajaj Auto are present here.
However, the discussions are still on, and Tesla is considering many things before taking a final decision. Another reason is the proximity to the port of the site, which will facilitate logistics and exports. The Maharashtra government is cautious in this matter, as earlier Vedanta-Phuxcon semiconductor plant and big projects like Tata-Air Craft Project had gone to other states. Given competition, it is also likely that Tesla can choose another location.
Tesla put 13 vacancies on LinkedIn Tesla has recently announced job opportunities for 13 posts on LinkedIn as part of his expansion efforts in India. These roles are in Mumbai and Delhi, which indicates that Tesla may soon launch its sales showroom in India. In addition, Tesla has approached Tata Motors officials, who is a prominent EV manufacturer in India. There is a possibility that both companies are looking for opportunities for cooperation. Senior Tesla's senior official Prashant Menon can play an important role in the company's strategy. Menon led Tesla's India operation team before being posted in the Netherlands in 2022.
Discussion has been going on for many years Tesla's entry in India has been in discussion for many years. In 2021, the company had planned to set up a showroom and office at Lower Parel, Mumbai, but it was postponed by the Government of India refusing to reduce import duty on Tesla vehicles. Tesla had proposed to reduce the fee on a fully prepared EV from 60% to 40% at a fully prepared EV priced from $ 40,000, as well as promised that after assessing the market response, it would set up a manufacturing plant in India. . However, the Government of India refused to give any tax exemption at that time.
China's angle too In 2023, Tesla officials interacted with the Modi government about the purchase of local components, after which the company replaced the office in Pune. Musk's meeting with Modi further increased the discussions about Tesla's plans. In 2024, India introduced an updated EV policy, offering duty relief to manufacturers investing a minimum of $ 500 million. Musk was expected to announce an investment during a visit to India in April 2024, but he canceled the journey and visited China instead.
Location:
New Delhi,New Delhi,Delhi
First Published:
February 19, 2025, 13:44 IST
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Tesla will be ready to make a splash on the streets of India, the company will hold Tata's hand!
Industries Minister D Sridhar Babu said that the Telangana government is holding discussions with Tesla by putting in all efforts to establish their p
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Industries Minister D Sridhar Babu said that the Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state.
Tesla is reportedly sending a team in the third week of April to India to scout for locations to firm up its mega manufacturing plans to make vehicles in India (Representative picture) (HT_PRINT)
The Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday.
In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major investment opportunities by global giants, and as part of its focus, Tesla’s planned investment initiatives in India are also being tracked.
“We have been studying and tracking Tesla’s planned investment initiatives in India. We have been making all-out efforts to bring Tesla to Telangana for some time… Our team is continuing the dialogue and discussions with Tesla by putting in all efforts for Tesla to establish their plant in Telangana,” he said.
Telangana with its industry-friendly policy, is working with a progressive and futuristic vision by creating a world-class infrastructure and hassle-free permissions system to enable best-in-class companies like Tesla to do business in Telangana, he added.
The minister’s comments came after BRS leader K T Rama Rao in a post tagged a news report suggesting that Tesla Motors will send a team to India to scout for locations for a proposed electric car plant with a proposed investment of USD 2-3 billion.
“Request Telangana Government to go all out and do your best to bring them to our state. Make sure Tesla team visits Hyderabad and understands the progressive industrial policies of Telangana Government,” Rama Rao said in the post.
