Tesla to enter India by 2021!
2 min read
India, Get ready to Welcome Tesla!. A few days back a twitter user asked Elon Musk about his plans of entering the Indian markets. To which he replied, “Next year for sure.” Tesla is in advanced talks with the Karnataka Government to set up an R&D center in Bengaluru.
Gaurav Gupta, Ministry of Commerce: “We have offered them all support. Bengaluru has a favorable ecosystem for electric vehicles.” The Red carpet has been rolled, the Actor is Ready, but will he win the award? India will be a huge market for Electric Vehicles (EVs) in the coming years.
EVs over the years : (For 2019 – Via ET)
• Indian Market Size: ~₹50,000 Cr (2025)
• Tesla Total Sales: ~370K units
• Indian Total Sales: ~156K units
Given the new incentives offered by the Government & the rapid penetration of EVs, all Auto companies will eventually switch to EVs.Tesla is a pioneer in EVs. However, will they be able to win the price-sensitive Indian Market? Currently an average Tesla costs around ₹50-70L. The prices may go higher provided other costs are included. To put it into perspective, India sold just around 20-30K cars costing above 50L. Tesla also announced their plans of developing a car costing $25K (appx.₹18L) in the future.
• Tata Motors is also heavily investing in EVs. They launched the Electric Nexon earlier this year, making many heads turn. Another interesting facet: Self Driving Cars! Mukesh Ambani: “Everything is in place to Make India World Leader in AI”
Who knows, Tesla might partner with Jio to accelerate Self Driving cars in India! Quality + Right Pricing + Safety = Formula to crack India’s, EVs Market. The Indian EVs Market looks very exciting with huge scope for growth!
Who do you think will have the upper hand?
