Tesla finally enters India — nine years after Elon Musk first teased its debut

Core Insights - Tesla has officially entered the Indian market by opening its first showroom, referred to as an "Experience Center," in Mumbai after years of delays since 2016 [1][2] Company Overview - The showroom is located in Maker Maxity Mall, covering 4,000 square feet, and features the Model Y in rear-wheel drive (RWD) and long-range RWD versions imported from Shanghai [2] - The Model Y RWD is priced at ₹59,89,000 (approximately $68,000), while the long-range RWD is priced at ₹67,89,000 (approximately $79,000) [3] - A full self-driving add-on is available for ₹600,000 (approximately $7,000) [3] Market Entry and Expansion - Indian customers can place orders for the Model Y with a non-refundable deposit of ₹22,220 (approximately $260), with deliveries expected to start in Q3 for the RWD variant and Q4 for the long-range RWD [4] - Tesla plans to establish four charging stations in Mumbai and Delhi, including Supercharger posts and destination chargers, and is expected to open a second store in Delhi soon [5] Industry Context - India is the fourth-largest automotive market globally, producing nearly 6 million vehicles annually, but has a relatively small electric vehicle (EV) footprint primarily dominated by two-wheelers [6] - The Indian government aims for 30% of all automotive sales to be electric by 2030 [6] Strategic Developments - Tesla is considering importing cars from its Berlin facility once the India-EU free-trade agreement is signed [5] - In 2023, Tesla plans to nearly double its component sourcing from India to up to $1.9 billion [10] - Despite discussions about establishing a manufacturing presence in India, Musk remains unconvinced about setting up a local factory [10] Operational Insights - Tesla has hired several employees in India and has multiple job listings in cities like New Delhi, Pune, and Mumbai, although it currently lacks a specific head in India [11] - Tesla CFO Vaibhav Taneja is overseeing operations in India, with local board directors managing policy, sales, and human resources [12] Competitive Landscape - Tesla's entry into India comes amid challenges in major markets like China, Europe, and the U.S., where local competitors are gaining market share [13] - In Q2, Tesla's global sales dipped 13% to 443,956 units, with significant declines in sales across China, Europe, and the U.S. [14][15]