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Tesla Car Price India: With the anticipated decrease in import duties to 15-20 per cent in India, along with other expenses such as road tax and insurance, the expected on-road price of Model 3 would still about $40,000, equating to about Rs 35-40 lakh, in…Read More
The Model 3 is Tesla’s most affordable EV in the US currently, which retails for around $35,000 (about Rs 30.4 lakh) at the factory level.
Even as Tesla is expected to enter India this year, global capital markets firm CLSA said its electric cars in India will cost at least Rs 35-Rs 40 lakh despite a reduction in import duties to below 20 per cent. The Model 3 is Tesla’s most affordable EV in the US currently, which retails for around $35,000 (about Rs 30.4 lakh) at the factory level.
With the anticipated decrease in import duties to 15-20 per cent in India, along with other expenses such as road tax and insurance, the expected on-road price of Model 3 would still about $40,000, equating to about Rs 35-40 lakh, in India, CLSA said.
“The cheapest Model 3 for Tesla in the US is c.USD35k. With tariff lowered to c.15-20 per cent in India, along with road tax, insurance and other costs, on-road price would be c.USD40k, which is close to Rs 3.5-4m,” CLSA added, according to news agency ANI.
The price is 20-50 per cent higher than domestic EV models like Mahindra XEV 9e, Hyundai e-Creta and Maruti Suzuki e-Vitara.
The Tesla entry into India is unlikely to disrupt the Indian EV market significantly, CLSA said.
Gurmeet Chadha, managing partner and chief investment officer at Complete Circle Wealth, said, “Among the top-10 selling cars in India, only two are above Rs 20 lakh — Hyundai’s Creta and Mahindra’s Scorpio.”
When Is Tesla Coming To India?
According to reports, Tesla is expected to start its retail operations in India from April. The US-based company has selected locations for two showrooms in New Delhi (Aerocity) and Mumbai (Bandra Kurla Complex).
Tesla will initially import vehicles to sell in India from its German facility and may set up a manufacturing unit in India if it first succeeds with imported vehicles in the country.
Andhra Pradesh has made efforts to attract the Elon Musk-owned company to set up its manufacturing unit in the southern part of the state.
A few days ago, Tesla opened recruitments for various roles in India (the ‘Mumbai Suburban’ area). The job roles included service advisor, parts advisor, service technician, service manager, sales & customer support, store manager, sales & customer support, business operations analyst, customer support supervisor, customer support specialist, delivery operations specialist, order operations specialist, inside sales advisor, and consumer engagement manager.
These job postings, which comes days after the recent meeting of its CEO Elon Musk with Prime Minister Narendra Modi during the latter’s recent US visit, have been viewed as a signal of Tesla entering the Indian EV market.
