Tesla to open first showroom in Mumbai next month, sell China-made EVs: Report
Tesla is set to make its debut in India, opening its first showroom in Mumbai next month, as the Elon Musk-led company seeks to expand its operations in the world's third-biggest automobile market amid declining sales in Europe and China, Bloomberg News reported.The company is expected to open its first showroom in Mumbai, which will be followed by one in Delhi, according to the people. The electric vehicle giant has imported supercharger components, car accessories, merchandise and spares from the US, China and the Netherlands, the Bloomberg News report said.advertisementThe electric vehicle giant's first set of cars - Model Y rear-wheel-drive SUVs shipped from Tesla's China factory - have arrived in India, people familiar with the matter told Bloomberg News. The Model Y is the world's largest-selling electric car.
The breakthrough in bringing Tesla to India comes after Musk met Prime Minister Narendra Modi in the US in February. The debut will end years-long deadlock over the company's entry into India after Musk differed over tariffs and local manufacturing.In February, Bloomberg News reported that Tesla was expected to ship a few thousand cars to a port near Mumbai.MODEL Y VEHICLES TO BE SOLD AT PREMIUM PRICESo far, five Model Y cars have already arrived in Mumbai from Tesla's Shanghai factory, according to documents reviewed by Bloomberg News. The vehicles were declared at Rs 2.77 million (USD 31,988) and attracted over Rs 2.1 million in import levies - a duty in line with India's 70 per cent tariffs on fully-built imported cars under USD 40,000 plus surcharges, the documents said.advertisementAccording to people familiar with the plans, Model Y may attract a sale of more than USD 56,000 excluding taxes and insurance, although Tesla will determine the final price based on its margin and positioning strategy.The price is comparable with an ex-showroom price of USD 44,990 for the same model in the US, which sells for USD 37,490 once taxes are included.Tune InMust Watch
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