Tesla has launched its first charging facility at Bandra-Kurla Complex (BKC) in Maharashtra’s Mumbai, weeks after opening its first showroom in the city.
Tesla enters India with Mumbai showroom launch
Tesla marked its official entry into the Indian market with the launch of its first showroom at the Maker Maxity Mall in Mumbai’s Bandra Kurla Complex on June 15.
With the launch of its first showroom in Mumbai, Tesla is expected to test the Indian market and build a base for its premium electric vehicles in one of the world’s fastest-growing automobile markets.
Tesla was not interested in manufacturing in India; instead, they were looking at opening showrooms here, Union Minister for Heavy Industries, H.D. Kumaraswamy, had said.
Tesla’s India entry gains momentum amid policy shifts
Earlier, there were reports that Tesla was interested in importing Tesla cars into India and subsequently selling them through their showrooms in India. But Tesla has been tight-lipped all through on its India operations.
Early this year, Tesla Inc. officially began its hiring process in India, marking a significant step towards its long-anticipated entry into the domestic market. While Tesla had not provided an official timeline for its India launch, its active hiring had suggested that preparations were in full swing.
Tesla boss Elon Musk had in past indicated that he was interested in investing in India, but “high import duty” structures were a bone of contention.
Tesla’s intention to enter India intensified after the country announced its new EV policy, which substantially reduced import duty and provided numerous incentives to attract global EV carmakers.
In April this year, Prime Minister Narendra Modi held a telephonic conversation with Tesla CEO Elon Musk and discussed the immense potential for collaboration in the technology and innovation sectors. PM Modi had also met Musk this February in the US. (Inputs from ANI)
Also Read: Tesla To Vote On Elon Musk’s xAI Investment: How Will It Impact Tesla’s Growth?
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
He is committed to entrenched data, facts, research, solutions, and a dedication to value-based journalism. He has covered trade tariff wars, international alliances, corporate policies, government initiatives, regulatory developments, along with micro- and macroeconomic shifts impacting global fiscal dynamics.
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