Latest news with #TeslaChina
Time of India
09-05-2025
- Automotive
- Time of India
Tesla China to lead India operations as country head Prashanth Menon resigns: Report
Tesla Cybertruck Tesla India head Prashanth Menon has resigned from the Elon Musk-owned electric car company, reports Bloomberg. This comes as the company plans to open its first retail outlets in Mumbai and Delhi. Menon, as per the report, has worked with Tesla for nine years. He had been instrumental in laying the groundwork for the EV maker in the country. Menon, who had been leading India operations as chairman of board of Tesla India for more than four years, reportedly set up the company's local office in Pune in 2021. Operation Sindoor 'Did not want to...': Pak def min gives absurd excuse for army's failure to withstand Op Sindoor Blackouts, sirens & Pak's failed attacks: 10 things that happened in the last 36 hrs '1971 war was not remotely as terrifying': Residents of border areas shell-shocked He also led efforts to secure Tesla's first showroom leases earlier this year. Tesla China to oversee India operations As per the Bloomberg report, Tesla China will now oversee the company's operations in India. 'Tesla's China teams will oversee India operations, with no immediate successor named, the people said. The rejigging of Tesla's top order in India comes just as it appears to edge closer to launching in the world's third-largest car market,' the report said. Tesla to open its first showroom in Mumbai's BKC As mentioned above, Tesla is planning to open its first showroom in India soon. Earlier this year, the US electric vehicle maker finalized a deal to open its first showroom in Mumbai's Bandra Kurla Complex, in what is probably the highest lease rent for a commercial space. Quoting sources from the property market, TOI then reported that Tesla will set up a showroom in a 4,000 sq ft space on the ground floor of a commercial tower in BKC, Mumbai. The company will display its car models there. The monthly rent is about Rs 900 per sq ft, which works out to around Rs 35 lakh a month. The lease is for five years. Tesla is also planning to open a second showroom at the Aerocity complex in Delhi. The lease deal was signed a few weeks after CEO Elon Musk met Prime Minister Narendra Modi in Washington. Soon after, Tesla posted 13 job openings in India, showing fresh interest in entering the Indian market. The EV maker has also started the process of hiring in the country. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
15-03-2025
- Automotive
- Yahoo
Tesla releases refreshed Model Y in China, preps cheaper version for future: 'You will know after trying it'
Tesla has started delivering its revamped Model Y in China. Announced on Feb. 26 through Tesla's Weibo account, according to Teslarati, these new crossovers are rolling out of Tesla's Shanghai factory. Reports suggest the company completed nearly 7,000 deliveries in the first week. Tesla sales have been in a massive worldwide slump, including in China, as The Atlantic detailed, where local EV companies have gained significant ground on the American automaker. Tesla still sold nearly half a million Model Ys in China in 2024, but the company's total EV sales dropped 49% year over year in February. CEO Elon Musk and Co. are surely hoping this refreshed version can help to turn the brand's momentum back around in at least one market. Tesla's release of the Model Y in China comes at an odd time, though, as news broke on Friday that the company is also working on a cheaper Model Y for the Chinese market to compete with cheaper EVs there, costing 20% less to make, Car and Driver reported. It remains to be seen whether this news could impact sales of the more expensive Model Y in the meantime, as would-be buyers may be confused by the prospect of a cheaper option under the same model coming soon. Like all EVs, the Model Y can save money on fuel costs over time. More people switching to electric also means cleaner air. EVs cut down on pollution, giving the environment a much-needed break. In the announcement that Teslarati relayed, Tesla China noted: "Congratulations to the car owners! As we said before: Just compare, you will know after trying it." Some EV fans in China expressed excitement about the release. On X, formerly known as Twitter, Tsla Chan (@Tslachan) posted, "Tesla China began delivering the new Model Y on Feb. 26, and successfully delivered 6,660 units last week." Teslarati (@Teslarati) chimed in, writing, "Awesome look at Tesla's deliveries of the new Model Y in China! At one point, Tesla had accumulated 170,000 reservations for this vehicle." Tesla's stock price has plummeted in recent weeks, dropping to under $250 per share on a consistent basis over the last week after a high of $488.54 on Dec. 18. Massive sales for the Model Y or any other of the company's releases could help to turn that back around. Do you trust Tesla to produce quality products? Absolutely I trust Tesla not Elon I'm not sure Not at all Click your choice to see results and speak your mind. 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.
South China Morning Post
13-03-2025
- Automotive
- South China Morning Post
Tesla pins hope on refreshed Model Y to regain share after sales dive in China
Tesla has received massive orders for its refreshed Model Y SUV in mainland China, a major boost for the US electric vehicle (EV) maker after sales fell sharply last month. Advertisement The company's Gigafactory in Shanghai, its largest in the world, is ramping up production of its bestselling model to ensure early deliveries to customers, according to two sales managers in the city. Tesla's sales on the mainland in February fell to 30,688, the lowest since July 2022. Deliveries slumped 51.5 per cent month on month and 49.2 per cent year on year. Tesla began delivering the upgraded version of the Model Y on the mainland in late February, but buyers in Shanghai are still waiting for deliveries due to a production shortage. Tesla employees at the Shanghai Gigafactory 3 witness the 2 millionth vehicle roll off the production line on September 6, 2023. Photo: Handout Customers ordering the entry-level Model Y have to wait for two to four weeks for deliveries, according to Tesla China's website. The wait for the long-range version is six to 10 weeks. Advertisement 'Tesla is playing catch-up with its Chinese rivals after losing market share to companies like BYD and Xiaomi,' said Eric Han, a senior manager at Suolei, an advisory firm in Shanghai. 'The new version of the Model Y is certain to buoy sales in the near term, but the US carmaker will still face pressure to retain its share in this cutthroat market.'
Reuters
05-02-2025
- Automotive
- Reuters
Tesla offers insurance subsidy for Model 3 buyers in China
BEIJING, Feb 5 (Reuters) - Tesla China is offering insurance subsidies of 8,000 yuan ($1,103.34) for all Model 3 buyers, the automaker announced on its official Weibo account on Wednesday. ($1 = 7.2507 Chinese yuan)
