Tesla, a US multinational auto company, which specialises in making electric cars has completed plans and are only looking for a suitable showroom to be located in New Delhi and Mumbai inorder to begin thier sale in India later this year.
The company wants to begin thier sale in India with a showroom of about 3,000 to 5,000 square feet which is between 280 – 465 square meters. They will also establish a service hub in each city
Recall that Tesla saw its global vehicle deliveries decline in the first quarter for the first time in nearly four years, so they are stepping up efforts to expand into new markets.
Telsa has also begun production of right-hand drive cars at its plant in Germany for export to India, separate sources have said.
India last month cut electric vehicle import taxes to 15% from as much as 100% for automakers that invest at least $500 million and set up a factory.
Elon Musk the CEO of Tesla motors is expected to make this investment announcement and also have a business meeting with the Prime Minister Narendra Modi during a two-day visit to India from Sunday as their last meeting was in New York in June last year.
Tesla executives started looking at locations last month and have held talks with several real estate developers as they look at potential high street and mall sites, one of the sources said. The person added that the company is keen to begin construction soon so that the showrooms can open this 2024.
The demand for electric cars in India, which is the world’s third-largest auto market – is expected to soar forecast said. EVs made up just 2% of India’s total car sales in 2023, but the government has said it wants 30% of all new car sales to be electric from 2030.
