Tesla Entry In India: Anand Mahindra Has A Message For Elon Musk
Anand Mahindra welcomed Tesla's India entry with its first showroom in Mumbai.
Mahindra Group chairman Anand Mahindra has welcomed Elon Musk for Tesla's entry in India after it launched the first showroom in Mumbai. In the X post, Mahindra said, 'one of the world's largest EV opportunities just got more exciting". He further added that competition drives innovation, stating that there's plenty of road ahead.
Tesla has made its long-awaited debut in India with the opening of its first showroom in Mumbai's Bandra Kurla Complex (BKC) today. This marks the beginning of Tesla's official journey in one of the world's fastest-growing electric vehicle (EV) markets.
Maharashtra Chief Minister Devendra Fadnavis attended the inauguration and expressed hope about Tesla's future plans for electric vehicle manufacturing and Research and Development in India.
'We hope that Tesla will also plan a manufacturing plant and a Research and Development unit in India as well," said Fadnavis during his address at the launch event.
'This is more than just an inauguration — it's a statement that Tesla has chosen the right city and state," said the Maharashtra Chief Minister.
The company has also revealed the prices for its electric vehicles, with the Model Y's on-road price listed at Rs 61 lakh. The rear-wheel drive version is priced at Rs 59.89 lakh.
Last Friday, Tesla had hinted at the launch through a post on its India-focused X account, stating 'Coming soon," along with a graphic suggesting its planned debut in July 2025.
India's recently announced EV policy, which includes reduced import duties and incentives for global electric vehicle manufacturers, may further support Tesla as it entered the market.
Tesla is expected to open up another showroom later this month in Delhi's aerocity.
view comments
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
34 minutes ago
- News18
PM Narendra Modi UK Visit PM Modi To Visit UK To Sign Free Trade Agreement Kier Starmer
Prime Minister Narendra Modi will visit the United Kingdom to sign the Free Trade Agreement and then make an onward journey to the Maldives, in key two-nation tour starting July 23 to visits are aimed at boosting India's bilateral and trade ties with the UK and repairing New Delhi's strained relations with the Maldives. News18 Mobile App -
Time of India
41 minutes ago
- Time of India
MRPL to offer Rs 80 lakh per acre for acquisition of land
Mangaluru: A decision has been taken to provide suitable compensation to those displaced by the acquisition of 27 acres for the proposed green zone project by Mangalore Refinery and Petrochemicals Limited (MRPL). The decision was made during a meeting chaired by Dakshina Kannada MP Brijesh Chowta at the DC's office on Saturday. MRPL submitted a proposal to the district administration to offer compensation of Rs 80 lakh per acre, along with Rs 20 lakh in cash and a plot of land for each family instead of employment. The MP said this longstanding issue must be resolved satisfactorily for everyone. The severity of the displaced people's problem is understood, and a good package must be provided, he said. There are 408 door numbers on 27 acres, and according to the survey, land acquisition and other expenses might amount to Rs 93.9 crore, as reported by the Karnataka Polytechnic (KPT) that conducted the survey. Deputy commissioner Darshan HV said that a final decision on the package submitted by MRPL will be made soon. The 27 acres to be acquired fall within the jurisdiction of Jokatte, Bala gram panchayats, and Bajpe Town panchayat, and the DC instructed that no new door numbers should be issued in these areas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Moodbidri MLA Umanath Kotian, MRPL MD Mundkur Shyamprasad Kamath, officials of the Karnataka Industrial Area Development Board (KIADB), and leaders of the displaced, including Muneer Katipalla, among others, were present. MRPL records decline in profits The MRPL reported a net loss of Rs 272 crore for the first quarter of the 2025–26 financial year, a sharp decline from a net profit of Rs 66 crore during the same period last year. The board of directors approved the standalone and consolidated financial results for Q1 on Friday. Revenue from operations fell to Rs 20,988 crore, down from Rs 27,289 crore in Q1 of 2024–25. The company's gross refining margin (GRM) also declined to $3.8 per barrel from $4.7 per barrel in the corresponding quarter last year. Total throughput at the refinery dropped to 3.5 million tonnes (MT), compared to 4.3 MT in the same period last year. However, MRPL recorded its highest-ever crude processing in a single month, with 1,512 thousand metric tonnes (TMT) processed in April 2025—surpassing the previous record of 1,481 TMT in April 2022. A company release said the major units in the phase-2 complex were shut down for maintenance during the quarter.
Mint
an hour ago
- Mint
Wall Street week ahead: Investors eye Q2 earnings from Tesla, Google, Intel, General Motors, and Jerome Powell's speech
Wall Street investors' major focus in the week ahead will be on the second quarter earnings from some of the big American companies. Electric vehicle giant Tesla, IT behemoth Google-parent Alphabet, Coca-Cola, Intel, Verizon, General Motors, and IBM are scheduled to declare their earnings. The economic calendar next week will be fairly light, with market participants to receive data on existing home sales, initial jobless claims, and S&P Global's flash services and manufacturing PMIs. The traders will also closely monitor Federal Reserve chair Jerome Powell's speech at a conference for clues on the US central bank's monetary policy ahead. On July 21 (Monday), a report on US leading economic indicators for June will be released. On July 22 (Tuesday), Fed Chair Powell is slated to give opening remarks at a banking conference. On July 23 (Wednesday), data on existing home sales for June will be released. On July 24 (Thursday), separate reports on initial jobless claims for the week ended July 19, S&P flash US services PMI for July, S&P flash manufacturing PMI for July, and new home sales for June will be released. On July 25 (Friday), data on durable-goods orders for June will be released. Following companies are due to report second quarter results in the week ahead — Verizon, Domino's Pizza, Coca-Cola, Philip Morris, Lockheed Martin, General Motors, Alphabet, Tesla, IBM, AT&T, Blackstone, Honeywell, Intel, Nasdaq, Phillips 66, and Centene. US stocks ended mixed on Friday amid a Financial Times report indicating US President Donald Trump was pushing for steep new tariffs on European Union products. The report said the Trump administration was eyeing a minimum tariff of between 15% and 20% in any deal with the EU. The S&P 500 fell 0.57 points, or 0.01%, to 6,296.79, and the Nasdaq Composite rose 10.01 points, or 0.05%, to 20,895.66. The Dow Jones Industrial Average lost 142.30 points, or 0.32%, to 44,342.19. For the week, the S&P 500 added 0.59%, the Nasdaq gained 1.5%, and the Dow slipped 0.07%.
