Tesla mass entry.. Huge showroom in Mumbai!

The famous American electric vehicle manufacturer Tesla is getting ready to make its entry into the Indian market. However, in the first phase, it plans to open a grand showroom at the Bandra Kurla Complex in Mumbai. This area is a key location for commercial spaces, and the rent for spaces here is also quite high. Tesla is reportedly going to lease a 4,000 square feet space on the ground floor of a commercial building in the Bandra Kurla Complex. It will showcase Tesla car models here. The rent for this space is about ₹900 per square foot per month, which amounts to around ₹35 lakh per month. This deal is for 5 years. Tesla is also looking to open a second showroom at the Aerocity Complex in Delhi.

During his visit to the US, Prime Minister Narendra Modi met with Tesla CEO Elon Musk. A few weeks after this meeting, the new deal was finalized. Additionally, Tesla has released a job offer list for those who wish to work at the company. Since taking office as the President of the United States, Donald Trump has made several major changes. Recently, he introduced a reciprocal tax system, which has led to various complexities regarding the bilateral trade agreement between India and the US. The reciprocal tax system applies to countries doing business with the US, and the US enforces tax processes based on the taxes imposed by those countries.

This has created some confusion regarding Tesla's entry into India. Following this trend, preparations are now underway to launch a showroom in India. Tesla has been eyeing the Indian market for many years. The company initially planned to enter India in 2022, but that plan was delayed for some reasons. The Indian government imposes taxes of up to 110% on imported vehicles. This is a matter of concern, and due to the high taxes, Tesla will need to set up a car manufacturing plant in India, said the company.

In an interview, Tesla’s CEO mentioned that the high taxes in India make it difficult to sell Tesla cars. He stated that various countries around the world benefit from taxes in different ways, but because of the high taxes in India, selling Tesla cars here is almost impossible. It is estimated that Tesla vehicles in India will be sold for around ₹21 lakh. However, this will be a premium price in the country's electric vehicle market. The price of Tesla's Cybertruck will be ₹50.70 lakh, Tesla Model 2 will cost ₹45 lakh, Tesla Model 3 will be priced at ₹60 lakh, Tesla Model Y will be ₹70 lakh, Tesla Model S will cost ₹1.50 crore, and the Tesla Model X will be priced at ₹2 crore. It would be beneficial if the Indian government announces incentives to encourage people to use electric vehicles as part of plans for those looking to buy cars in India. For more updates on business-related news, visit Vaartha's Business Section.