The electronics giant Tesla has finally entered the Indian car market with the much-hyped Model Y electric SUV. The base, rear-wheel drive version of Tesla Model Y (that costs 60.1 lakh rupees or about 70,000 dollars) is also complemented by a long-range version, which is the 67.8 lakh rupees (or around 79,000 dollars) model. This is a major development in the history of the electric vehicle (EV) in India, with the first Tesla showroom to be launched in India at the swank mall Maker Maxity in Bandra Kurla Complex (BKC), in the city of Mumbai. Thus, the Tesla Model Y price in India starts at 60.1 lakh rupees and goes up to 67.8 lakh rupees.
There was a lot of hype about the inauguration event of Tesla India, and Maharashtra Chief Minister Devendra Fadnavis and State Transport Minister Pratap Sarnaik were present on the occasion as special guests. Outside the venue, police officers were used in receiving VIPs and invited guests. It is a minimalist showroom with the Tesla trademark logo placed at the end of a white wall, and a partially covered Model Y on the showcase made of glass panels, which caused a wonder to all people around viewing and passing by.
The prices are significantly higher than other world markets, i.e., 38.6 lakh in the US, 30.5 lakh in China, and 46 lakh in Germany, but the higher rates are based on high importation tariffs imposed by India on foreign cars. Tesla is, however, looking to capitalize on the emerging number of affluent, urban EV customers in the country and enter into a high-end market where the company will face competition with others such as BMW and Mercedes-Benz.
Although India is yet to follow in the footsteps of many other countries that have transformed their auto industries with EV vehicles, the industry is slowly catching up. Locally-based behemoths like Tata Motors and Mahindra are in the vanguard of the mass-market charge. The Indian government aims at raising the use of EVs to 30% of the total car sales, with the current use of only 4%, and the present continuous tax incentives and foreign investment policies clear the path to its accelerated growth within the segment.
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