Tesla, as per available reports, is set to enter the Indian market by January next year.
Speculations on the entry of the global Electric Vehicle giant into the Indian subcontinent was set to rest at the beginning of this year when the CEO of Tesla, Elon Musk’s tweeted “as promised” on January 13 in response to a report that the EV maker was in talks with Indian states to open offices, showrooms, a RnD centre and possibly even a factory. Karnataka CM has also mentioned in February this year that Tesla has shown priority interest in setting up its country hub in Bangalore.
As per media reports, the US based EV maker is scouting for senior level positions in Marketing, Human Resources and other leadership roles. Earlier this year, Prashanth Menon, who has been with Tesla for four years, was also elevated to the position of country CEO. A senior legal counsel has also been brought on board as per media reports.
Tesla hasn’t confirmed anything with regard to this as yet. However, the automaker has been negotiating with local officials for six months and is actively considering car assembly in the suburbs of Bangalore, other people familiar with the matter stated at the time.
The extravagant price tags of Tesla cars cannot miss the eye. As India is the home to a budding middle class, pricey automobiles remain well out of reach of the vast majority of the population. The lack of charging infrastructure can be a massive hindrance to large-scale EV adoption in India.
Tesla is also eyeing developments in the GST slabs, which would facilitate slightly lower price tags. Other incentives for EV makers under India’s production linked inventive programs are also awaited, since India, unlike China has yet not rolled out any such. The cabinet, however, in May this year had approved a Rs 181 Billion Rupee plan to augment battery storage capacities to 50 Gigawatt hours.
Tesla’s first foray outside the US has been in Shanghai, China, which makes it account for 6% of China’s annual car sales, compared to less than 1% in India (Bloomberg NEF).
Source: Media Reports