Tesla Motors Contemplate Entering Indian Market

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American automobile manufacturer of electric cars and electric vehicle powertrain components Tesla Motors has developed several products in recent times. They were the first to manufacture a fully electric sport car called the Tesla Roadster.

The manufacturer has also developed a fully electric luxury sedan, Model S. They are developing two more electric vehicles that have been codenamed Model X and Model 3. Tesla Motors was founded in 2003 by Elon Musk, Martin Eberhard, Marc Tarpenning, JB Straubel and Ian Wright.

India is a fast growing automobile market, premium manufacturers are launching several products in the market. Tesla Motors is exploring the option of introducing their products in India. The American manufacturer has been working on a project that is targeted at upcoming markets.

They plan to introduce their Tesla Model 3, which is an affordable luxury sedan. The American manufacturer goal is to price this vehicle in the INR 20,00,000 to 25,00,000 price bracket. Tesla Motors claim the major obstacle in their path is high import duty on vehicles.

Currently import duties are at an all time high in India. It is a fact that India has the highest import duty across the globe. As of now, India levies over 100 percent import duty on vehicles. Tesla Motors plan to bring their vehicle to India either from the United States or Netherlands initially.

Tesla Motors believe India is their ideal choice to setup an assembly plant for their Asia operations. Before they take this step they need support and a definite policy from the Indian Government, which will support growth of electric vehicles.

The American manufacturer offers its Model S in only two countries in Asia. China and Japan have already purchased 5,000 and 2,000 fully electric sport vehicles respectively. India is the third largest automobile market and is a sensible choice for Tesla Motors to introduce their product range.

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Story first published: Thursday, November 20, 2014, 12:36 [IST]
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