Tesla India Launch: Under-20 Lakh EV Coming Soon, Says Elon Musk
PuneNow, July 16, 2023: In a significant development for the country’s growing electric vehicle (EV) market, Tesla CEO Elon Musk has announced his plans to launch a sub-20 lakh Tesla EV in India. The move is creating waves of excitement among potential EV buyers and enthusiasts.
The affordable EV, a hatchback expected to be priced below the $25,000 mark (around Rs 20 lakh), will serve as the entry point for the American EV brand in India. With Tesla keen on making its mark in India and considering setting up a manufacturing facility, the hatchback seems a logical choice, especially given the sales volumes of locally produced EVs in the sub 20 lakh bracket.
Though details about this EV remain scarce, it is known that it will be based on a new platform that costs half as much as Tesla’s second-gen platform (used in the Model 3 and Model Y). Expectations are high for the vehicle’s range, performance, and fast charging capabilities, in line with Tesla’s existing models.
Musk’s decision aligns with the Indian government’s drive for increased EV adoption and their push for sustainable transportation methods. However, Tesla’s entry into the Indian market will face competition from established automakers, startups, and government-backed initiatives.
Among the key contenders are homegrown Indian automakers like Tata Motors and Mahindra & Mahindra, global automakers such as Hyundai, Nissan, and MG Motor, and rising EV startups like Ola Electric, Ather Energy, and Revolt Motors. Their established manufacturing facilities, customer trust, and innovative solutions tailored to the Indian market could give them an edge.
Additionally, companies like Tata Power, Ather Grid, and EV Motors, striving to expand the charging infrastructure network across India, might attract EV buyers and provide competition to Tesla’s Supercharger network.
Tesla, however, holds some unique selling points that could differentiate its EVs in the market. Its brand value, associated with cutting-edge technology and sustainability, advanced battery technology, software integration, and autopilot features, along with its successful global track record, give it a competitive edge.
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The meeting between Indian Prime Minister Narendra Modi and Musk in the US in June 2023 has further cemented Tesla’s commitment to the Indian market. Reportedly, the company is in discussions with the Indian Government to set up a production facility with an annual capacity of 5 lakh electric vehicles. If successful, this facility could become a production hub for Tesla’s much-publicized $25,000 electric car, especially for the Indo-Pacific region.
Tesla’s entry into India signifies the company’s commitment to the market and marks a significant step towards sustainable transportation in the country. While competition abounds, Tesla’s technological prowess and unique selling points position it as a strong contender in the race to electrify India’s roads.
