First Made-In-India Tesla vehicle promises High-Tech luxury at a price less than Rs. 17 Lakh

Delhi : It looks like Tesla is almost ready to start selling its vehicles directly in India. Plans are in place to import the vehicles from outside early in 2019 and set up a manufacturing facility in less than 24 months, sources say. The American manufacturer of electric vehicles (EVs) has been a major player in both established and developing countries in recent years, ranking among the top sellers of zero-emission passenger vehicles.

An announcement about its market launch might be made in the first month of 2024 CY at the Vibrant Gujarat Global Summit. States like Tamil Nadu, Maharashtra, and Gujarat are considered for the establishment of a future plant because of their well-established resource bases and the fact that many local and international automakers produce their goods there.

Tesla is thought to be focusing on investing at least USD 2 billion in establishing a manufacturing facility and may try to source components worth USD 15 billion locally. In the future, Tesla would also want to build battery packs and related parts domestically in order to realise economies of scale and make the costs competitive.

The local government's connection with Tesla has undoubtedly strengthened in the last few months, even if there hasn't been any formal confirmation as of yet. The CEO of Tesla, Elon Musk, said in the middle of 2023 that a significant investment is planned for India in the upcoming year. The corporation has been establishing new plants and quickly growing its global footprint.

Presently, China, Germany, and the United States are where Tesla manufactures its electric cars. Although the Indian EV business is off to a strong start, a large client base still has a ways to go before it becomes appealing. There will be a lot of activity in this market over the next three years as popular companies including Maruti Suzuki, Hyundai, Tata, Mahindra, Honda, Kia, and Toyota prepare to introduce new models.

Though several participants in the luxury market have introduced their EVs quickly after making their worldwide debuts, the response from consumers has been very favourable. According to reports, the initial Tesla vehicles manufactured in India may only set you back about USD 20,000, or roughly Rs. 16.67 lakh.