Tesla, the popular electric car company led by Elon Musk, is finally entering the Indian market. The company will open its first showroom in Mumbai this Tuesday, and car deliveries are expected to begin by the end of August, according to sources.
This marks Tesla’s official entry into India, the world’s third-largest car market. People visiting the showroom will be able to check car prices, different models, and features. Customers can start customizing and placing orders for their Tesla cars starting next week.
Last month, Bloomberg reported that Tesla’s Mumbai showroom was almost ready and that a few Model Y SUVs had already arrived from the company’s factory in China. Another Tesla showroom is also expected to open in New Delhi later this month.
Tesla’s launch in India comes at a time when the company is facing slower sales in other countries. This move could help boost its global performance.
The Model Y is the world’s best-selling electric vehicle. Its success in India will show whether Indian buyers are willing to pay high prices due to heavy import taxes. Tesla’s CFO, Vaibhav Taneja, mentioned earlier that India’s high import duties were a big reason for the company’s delay in entering the market.
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According to documents seen by Bloomberg, each Model Y brought into India is priced around ₹27.7 lakh ($32,270). But due to India’s 70% import tax on foreign-built cars, the final price could be much higher than what buyers pay in the US (about $46,630).
During the first week of the showroom’s launch in Mumbai, it will be open only for VIPs and business partners. The general public will be allowed to visit starting the following week.
