Elon Musk’s Tesla to open first India showroom in Mumbai on 15 July, Model Y likely to lead the lineup | Company Business News

Elon Musk led Tesla will open its first store in India on 15 July in Mumbai which will be called an ‘experience centre’, Reuters reported. In the last few months, the EV maker had ramped up hiring in India and was scouting for showroom locations in Delhi and Mumbai. 

According to a Bloomberg report from last month, Tesla’s first set of cars have arrived in India which will be Model Y rear-wheel drive SUVs shipped from company’s China factory. The report also stated that Tesla has imported Supercharger componenets, car accessories, merchandise and other spare parts from US, China and the Netherlands. 

After Mumbai, Tesla also reportedly has plans to start a new showoom in New Delhi. 

Five Tesla Model Y in India: 

Five Model Y vehicles have already arrived in Mumbai from Tesla’s Shanghai factory, according to documents reviewed by Bloomberg News. The cars were declared at 2.77 million rupees ($31,988) and attracted more than 2.1 million rupees in import duties — a levy that’s consistent with India’s 70 per cent tariff on fully-built imported cars under $40,000 plus surcharges, the documents show.

The model is expected to go on sale for more than $56,000 before taxes and insurance, though Tesla will determine the final sticker price based on its margin and positioning strategy, according to people familiar with the plans.

That compares with an ex-showroom price of $44,990 for the same model in the US, which sells for $37,490 once tax credits are applied.

The premium price tag will likely be a major hurdle to Tesla’s plans as the automaker will need to convince value-driven consumers to open their wallets. EVs account for just over 5 per cent of new passenger vehicle sales in India, but premium cars still represent less than 2 per cent of the market, data with Indian government’s vehicle registration portal show.