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Tesla Motors’s Entry in India is the golden opportunity for the Indian Automakers
Let’s start with the information we have at hand: India’s transport minister, Nitin Gadkari, announced that Elon Musk’s electric car company will start selling EVs in India from 2021. Although, Tesla Motors or Elon Musk has not given any comment on the same.
It could be all merely speculation like in 2016 or 2018. Until Tesla Motors does enter the Indian market, the domestic automakers can lever the opportunity to tap into the automobile goldmine.
Let’s talk about Tesla Motors & the Indian automobile market first.
History
In 2016, Tesla started taking pre-orders for Model 3, its flagship vehicle, in various global markets, including India. Fans of Tesla (aspirational model) in India paid the token amount of $1,000 which is 6.5 times India’s per capita income/yr(market & opportunity) just to pre-order Model 3.
In 2018, Tesla Motors’s CEO Elon Musk blamed local regulations, which required automakers to source 30% of the parts domestically, owing to which the automaker failed to make its debut in the nation.
