Tuesday, July 15

TESLA LAUNCHES IN INDIA – Opens its first showroom in Mumbai, the country’s financial capital.

Tesla marked its official entry into the Indian market by launching its first showroom in Mumbai, the country’s financial capital.

The U.S. EV maker also launched its Model Y at about $70,000 in India, the highest price among major markets, as the U.S. automaker grappled with slowing sales bets on prospects in a country CEO Elon Musk has long criticised for its high import tariffs.

With deliveries estimated to start from the third quarter, Tesla is targeting a niche electric vehicle segment in India that accounts for just 4% of overall sales in the world’s third-largest car market.

Tesla has long lobbied India for lower import tariffs on cars, and Prime Minister Narendra Modi’s officials remain in talks with U.S. President Donald Trump’s administration to lower the levies under a bilateral trade deal.

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