With the world’s fifth largest car market, India is pushing for a boost in electric vehicle sales as it focuses on cutting emissions. Hence, it comes as no surprise that the world’s most popular electric vehicle company, Tesla, is all set to launch in India later this year. The EV giant has now registered a company in the country called Tesla Motors India and Energy Private Limited. Incorporated on January 8, the office is registered in Bangalore and allows Tesla to inch closer to its launch in the country.
Elon Musk has been debating introducing Tesla in India for a few years. Now would be the perfect time since India cut the goods and services tax on EV’s to 5% from 12%, effective August 2019, much lower than the 28% applied on other motor vehicles. The first offering in India will be Tesla’s Model 3, the most affordable option in their list, expected to be upwards of Rs. 60 lakh. However, the government is expected to offer certain incentives on it. According to several automotive leaders in India, Tesla is already a well-known name in the Indian market and will add significantly to India’s luxury car segment that is expected to grow by around 15% in the next five to seven years.
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