Mumbai (TIP)- ELON MUSK’S Tesla, the global electric vehicle (EV) giant, made its official entry into India July 15, launching its first showroom in Mumbai and showcasing its Model Y SUV. Inaugurating the showroom in Mumbai, Maharashtra Chief Minister Devendra Fadnavis said: “This is not just the inauguration of an experience centre but a statement that Tesla has arrived, in the right city and state, that is Mumbai, Maharashtra. Mumbai stands for innovation and sustainability.”
The entry marks a close to a long-winding, topsy-turvy journey around Tesla’s touted entry in India’s nascent and slowly growing EV market, after the company criticised India for having high import duties.
The Model Y SUV will come in two variants: the standard rear-wheel drive option with a claimed range of 500 km, priced at close to Rs 60 lakh, and a long range version with a claimed range of 622 km, which would cost close to Rs 70 lakh. Deliveries are expected to begin from the final quarter of 2025. The car can be registered in Delhi, Gurugram and Mumbai.
Tesla Model Y will also be able to be upgraded to full self-driving capabilities in the future, which would cost an extra Rs 6 lakh. “The activation and use of these features are dependent on achieving reliability far in excess of human drivers as demonstrated by billions of miles of experience, as well as regulatory approval, which may take longer in some jurisdictions. As these self-driving features evolve, your car will be continuously upgraded through over-the-air software updates,” Tesla said.
Incidentally, the car is twice as expensive in India compared to the US, where it costs around $38,000 (roughly Rs 33 lakh), owing to India’s high import duty on completely built units (CBUs). Tesla has no plans of manufacturing in India for the time being, Union Heavy Industries Minister H D Kumaraswamy had said last month.
The announcement of one of its models marks a close to the long-awaited entry of Tesla into India, after founder Elon Musk had criticised the country’s high import duty structure. In 2021, responding to queries on social media about Tesla’s launch in India, he had said, “We want to do so, but import duties are the highest in the world by far of any large country!” Import duties in India for such cars can go as high as 110 per cent.
In 2016, Musk had announced that pre-bookings for its Model 3 would be available for customers from many countries outside North America, including India. Soon, many customers in India put up a refundable deposit of $1,000 (approximately Rs 85,000 at current exchange rate). However, earlier this year, the company initiated refunds to those who had paid the reservation fee as the Model 3 has been discontinued.
After receiving complaints about the high duty structure, the government last year released a new EV policy, easing duty for a limited number of imports for manufacturers setting up facilities here with a minimum investment of Rs 4,150 crore. This was largely seen as an attempt to woo Tesla.
In turn, they will be eligible to import a maximum of 8,000 CBUs of electric four-wheelers per year, with a minimum import value of $35,000 at a reduced Customs duty of 15 per cent for a five-year period. The scheme is limited to global manufacturers with a revenue of at least Rs 10,000 crore per year, with fixed assets valued at a minimum of Rs 3,000 crore.
Currently, the customs duty on cars imported as CBUs is either 60 per cent or 100 per cent, depending on engine size and whether the cost, insurance, and freight (CIF) value is higher or lower than $40,000. Where the car costs $40,000 or more, the duty is 100 per cent; a cheaper car attracts 60 per cent.
In 2021, Tesla had written to nodal central ministries seeking a reduction in import duties on fully assembled cars and had asked for duties to be cut to 40-15 per cent depending on the price of the car. The new policy effectively fulfills that demand.
I have been exploring for a little for any high-quality articles or weblog posts on this sort of area . Exploring in Yahoo I eventually stumbled upon this web site. Reading this information So i am glad to convey that I have a very good uncanny feeling I discovered just what I needed. I so much certainly will make certain to don’t overlook this web site and give it a look regularly.
Hey, you used to write wonderful, but the last few posts have been kinda boring?K I miss your super writings. Past few posts are just a little out of track! come on!
Yeah bookmaking this wasn’t a high risk decision outstanding post! .
I do like the manner in which you have presented this particular situation and it does indeed give me a lot of fodder for thought. Nevertheless, coming from everything that I have seen, I simply trust when the actual feed-back pile on that men and women continue to be on issue and don’t embark upon a soap box associated with some other news du jour. Anyway, thank you for this fantastic point and even though I do not necessarily go along with it in totality, I respect your standpoint.
I love the efforts you have put in this, thanks for all the great posts.
I like this web blog very much so much wonderful information.
I enjoy looking through and I believe this website got some really utilitarian stuff on it! .
I just could not go away your site prior to suggesting that I really enjoyed the usual information an individual supply in your guests? Is gonna be again often to check out new posts
you’re really a good webmaster. The web site loading speed is amazing. It seems that you are doing any unique trick. Also, The contents are masterwork. you’ve done a wonderful job on this topic!
I like what you guys are up too. Such smart work and reporting! Keep up the excellent works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my site :)
I’ve been browsing online more than 3 hours lately, yet I by no means found any fascinating article like yours. It’s pretty value sufficient for me. In my opinion, if all webmasters and bloggers made good content material as you did, the net will likely be much more helpful than ever before.
It is perfect time to make some plans for the future and it’s time to be happy. I’ve read this post and if I could I want to suggest you few interesting things or tips. Perhaps you could write next articles referring to this article. I want to read even more things about it!
Enjoyed examining this, very good stuff, thankyou.
I really like your blog.. very nice colors & theme. Did you make this website yourself or did you hire someone to do it for you? Plz reply as I’m looking to design my own blog and would like to know where u got this from. appreciate it
You are a very intelligent individual!
I am really enjoying the theme/design of your website. Do you ever run into any internet browser compatibility issues? A handful of my blog audience have complained about my blog not operating correctly in Explorer but looks great in Opera. Do you have any solutions to help fix this issue?
It’s the best time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I desire to suggest you few interesting things or suggestions. Maybe you could write next articles referring to this article. I wish to read more things about it!
It’s actually a great and helpful piece of info. I’m glad that you shared this helpful info with us. Please keep us up to date like this. Thanks for sharing.
Hey There. I found your weblog using msn. That is a really neatly written article. I’ll make sure to bookmark it and come back to learn more of your useful information. Thank you for the post. I will certainly return.
There is noticeably a bundle to know about this. I assume you made certain nice points in features also.
Very interesting info!Perfect just what I was searching for!
I am very happy to read this. This is the kind of manual that needs to be given and not the random misinformation that is at the other blogs. Appreciate your sharing this greatest doc.
Hello. impressive job. I did not anticipate this. This is a remarkable story. Thanks!