Tesla shakes automotive world with announcement regarding major new facility: 'We wish to see R&D and manufacturing done [here]'
Half a dozen display vehicles were imported for the July 15 launch, which was intended to gauge interest among consumers.
One of the challenges facing Tesla in the market is sky-high tariffs, which amount to around 70% on imported vehicles, according to Teslarati. With no manufacturing facilities in the country, the company has no choice but to import its vehicles, at least until a domestic production plant can be brought online, which would take years.
"In the future, we wish to see R&D and manufacturing done in India, and I am sure at the appropriate stage, Tesla will think about it," said Devendra Fadnavis, chief minister of Maharashtra, according to Reuters.
The tariffs make India's Teslas far more expensive than they are in other markets.
The Model Y will sell for roughly $70,000 in its standard rear-wheel-drive configuration, while the long-range model will start at nearly $79,000, per Reuters. These vehicles sell in the United States for around $32,500 and $46,000.
The move into the Indian marketplace comes as Tesla's global sales continue to slump. From April through June, Tesla sold 13% fewer vehicles than it did during the same period a year prior, CBS News reported.
Overall, Tesla's share of the U.S. EV market has plummeted from 60% in 2020 to 38% in 2024, largely because of stiffer competition, according to the International Energy Agency.
Perhaps most troubling, Tesla has struggled even as overall sales of electric vehicles have climbed.
In 2024, 1 in 5 new cars sold was an EV, totaling 17 million worldwide and an increase of 25% over the year prior, the IEA found.
Would you be more likely to drive an EV if you could charge it in 5 minutes?
Yes
Depends on the cost
No way
I already have an EV
Click your choice to see results and speak your mind.
Electric vehicles help improve public health, particularly in cities, where particulate matter and other pollutants from internal combustion engines contribute to a range of health problems.
According to the World Health Organization, air pollution combined with household air pollution causes 7 million premature deaths every year, and 99% of the world's population lives in areas where the air does not meet minimum health standards.
The vast majority of this pollution comes from the burning of dirty energy sources, such as gas, oil, and coal, which releases heat-trapping gases into the atmosphere, contributing to rising global temperatures.
Thus, EVs are a win-win for public health and for mitigating the worst impacts of the warming planet.
A great way to enhance the environmental and public health benefits of driving an EV is to charge it with solar energy. By installing solar panels on your home, you can drop your electricity bill to practically nothing while charging your EV for less than it would cost at a public charging station or via the grid.
EnergySage offers a free tool that makes it easy to compare quotes from vetted solar installers in your area, saving customers up to $10,000 in the process.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Infosys Collaborates with RWE AG to Drive Automated Digital Workplace Transformation
The collaboration will implement solutions that automate processes and provide self-service options to support RWE's journey towards operational excellence BENGALURU, India and ESSEN, Germany , July 28, 2025 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in digital services and consulting, today announced a strategic collaboration with RWE, a German multinational energy company, to drive automated digital workplace transformation and improve operational efficiency. Leveraging Infosys Workplace Suite, an amalgamation of tools and accelerators that help enterprises drive adoption of Digital Workplace Services, the collaboration will implement solutions that automate processes and enable self-service options, supporting RWE's ongoing efforts to drive operational excellence. Infosys has collaborated with RWE as a trusted partner for over 12 years, supporting numerous modernization and business transformation initiatives. Leveraging this extensive experience and its expertise in complex digital workplace transformations, Infosys is working closely with RWE to modernize its workplace with a strong focus on user centricity and sustainability. Building on this extensive experience and its expertise in managing complex digital workplace transformations, Infosys will guide RWE towards a modern workplace, placing user centricity and sustainability at the heart of its approach. This transformation will use tools like migration factory for automated Office 365 migration, collaboration apps, business dashboards and reports, Azure-powered conversational bot, service request automation, and governance solutions. These tools will support RWE in streamlining business operations and enhancing the employee experience. Gülnaz Öneş, Group CIO of RWE, emphasized, "By leveraging modern technologies and aligning them with our sustainability and efficiency goals, we are streamlining operations, empowering our people, and creating value across RWE. Our collaboration with trusted partners like Infosys underscores our commitment to a resilient, agile digital workplace that drives sustainable growth." Ashiss Kumar Dash, EVP & Global Head Services, Utilities, Resources, Energy and Enterprise Sustainability, Infosys, said, "Infosys is dedicated to empowering RWE AG in its ambitious journey to become a leading all-digital enterprise in Europe. By implementing our advanced digital workplace solutions, we are not only streamlining their operations but also directly enhancing their ability to deliver exceptional value to their core customers. Our focus is on equipping RWE's workforce with the latest digital capabilities, fostering a highly skilled and productive environment, ultimately helping drive sustainable growth." About Infosys Infosys is a global leader in next-generation digital services and consulting. Over 320,000 of our people work to amplify human potential and create the next opportunity for people, businesses, and communities. We enable clients in 59 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace. Visit to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. Safe Harbor Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as artificial intelligence ("AI"), generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2025. These filings are available at Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. Logo: View original content: SOURCE Infosys Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Morning Bid: US-EU deal boosts markets and the dollar
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets European stocks and Wall Street futures climbed again after the weekend deal between the United States and European Union averted a trade war between two allies that account for almost a third of global trade. The euphoria also lifted the dollar across the board. The U.S. struck a framework trade agreement with the EU on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate. The agreement mirrored key parts of the accord the U.S. reached with Japan last week, but, like that deal, this one leaves many open questions, including regarding tariffs on spirits and wine. * Euro zone stocks jumped almost 1% to within a whisker of the record high set earlier this month, with S&P 500 futures up modestly ahead of the bell. The dollar's rise was less intuitive, but analysts said reduced trade tensions may allow markets to now refocus on yield differentials. * U.S. trade deals with the EU, Japan and UK are seen as a significant win for Washington, as they secure higher tariffs on imports into the U.S. without retaliation and include commitments for additional investment to boot. Not all in Europe were happy with the tariff hike. French Prime Minister Francois Bayrou called it a "sombre day" for Europe, which he said had resigned itself to submission. U.S. and Chinese trade negotiators now resume talks in Stockholm, but the August 1 deadline on U.S. tariffs has been defused considerably as a major market issue. * Traders on Monday will also be keeping tabs on an OPEC+ ministerial meeting, but no change is expected in the production stance. It's also a heavy day of Treasury debt sales, with $139 billion of two- and five-year notes under the hammer. Treasury yields were softer going into the sales. * The week ahead is jam packed with events: policy meetings at the Fed, Bank of Japan and Bank of Canada; updates on the U.S. labor market, GDP and inflation; four megacap earnings reports and a quarterly refunding announcement. Today's column examines why the Fed may struggle to come up with justification for a rate hike in September. Today's Market Minute * The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade. * Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. * The Bank of England is expected to soon slow the pace at which it shrinks its 558 billion-pound ($754 billion) holdings of government bonds, and economists hope next week will shed some light on its longer-term goals for the stockpile. * New European Union sanctions targeting Russia's oil industry will reshuffle global diesel flows for the second time since 2022, adding pressure to an already red-hot market, writes ROI energy columnist Ron Bousso. * ROI columnist Clyde Russell claims the framework agreement reached between the U.S. and China has strong echoes of Donald Trump's failed trade deal with China from his first term as U.S. president. Chart of the day The U.S.-EU trade deal sees 15% levies on European exports to the United States. While the tariff applies to most goods, including semiconductors and pharmaceuticals, there are exceptions. The U.S. will keep in place a 50% tariff on steel and aluminum, for example, and there's no guarantee pharma will face higher tariffs in future either. What's more, discussions are still continuing regarding any tariff exemptions for EU wines and spirits, European Commission officials said, referring to the highly contentious area. Today's events to watch * Dallas Federal Reserve July manufacturing survey (10:30 AM EDT) * U.S. corporate earnings: Universal Health, Nucor, Principal Financial, Cincinnati Financial, Veralto, Cadence, Brown & Brown, Waste Management, Welltower, Hartford Insurance, Revvity * U.S. and Chinese trade negotiators resume talks in Stockholm * President Donald Trump meets UK Prime Minister Keir Starmer in Scotland * OPEC+ Joint Ministerial Monitoring Committee meeting * U.S. Treasury sells $69 billion of 2-year notes, $70 billion of 5-year notes Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (by Mike Dolan; editing by Ros Russell)


Bloomberg
25 minutes ago
- Bloomberg
EU-Sanctioned Nayara Energy Set to Receive Iraqi Crude This Week
A supertanker is set to deliver Iraqi crude to India's Nayara Energy in the next day or two, in what shippers say will be the first discharge of non-Russian oil since the refiner was sanctioned by the European Union. The Kalliopi, a very-large crude carrier, is currently heading to Vadinar port with about two million barrels of Iraqi crude, according to shipbrokers and ship-tracking data. The shipment, which is expected to arrive late on July 28, is meant for Nayara, the shipbrokers added.