It’s India’s tax structure that’s kept Tesla away from our market.
Elon Musk, CEO & Chief Product Architect of Tesla Motors, has confirmed that the Tesla brand will enter India this year or the next year. Replying to a twitter, he said “Would love to be there this year. If not, definitely next! India.” Read – Tesla Model 3 Gets 5 Star Rating In NHTSA Crash Test
In 2017, Tesla Motors had announced its plan to bring in Model 3 sedan to the Indian market. In fact, the carmaker opened bookings for the vehicle. Though, the tough government regulations forced the company to put a hold on its plans. Tesla Motors was said to source 30% components locally and as per the company “the supply doesn’t yet exist in India to support that”.
It’s India’s tax structure that’s kept Tesla away from our market. However, the government is making efforts to facilitate shift to environment-friendly vehicles and promote electric vehicles. Though the target seems too ambitious, the poor infrastructure and limited manufacturing sources and capabilities are two big challenges. Read – Uber Flying Taxis In The Works
With an investment of $5 billion, the American carmaker established its first facility outside the U.S (i.e. in China). India is surely a wooing business destination for the global carmakers including Tesla Motors. MG Motor and Kia Motors are also among the global car manufacturers that will launch their cars in India this year. While the MG is ready to introduce Hector SUV in coming months, Kia will bring in the SP concept based SUV.