AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Tesla is set to open a showroom in Mumbai next week, officially marking its entry into the Indian market.
According to an event invitation seen by CNBC, Tesla’s “Experience Center” launch event will take place on July 15 at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex, lasting 90 minutes.
is actively hiring in Mumbai, with job postings appearing on LinkedIn. These roles include showroom advisors, security staff, vehicle operators for collecting autonomous driving data, and service technicians.In addition to showcasing its vehicles at the showroom, Tesla is expected to introduce direct-to-consumer sales in India.
Although the Indian government hopes Tesla will eventually establish manufacturing operations in the country, Tesla currently has no production facilities in India. The vehicles sold there will need to be imported from Tesla’s factories in Shanghai, China, and Berlin, Germany.
One major challenge Tesla faces is India’s steep import duties on electric vehicles, which currently stand at approximately 70%. To attract investment, the Indian government offers a reduced import duty of 15% for companies that commit to investing $500 million and setting up local factories. Tesla will also face competition from BYD as well as domestic automaker Tata Motors.
Tesla is also hiring in India’s capital, New Delhi, including for a store manager role. It remains unclear whether Tesla plans to open a showroom in the city.
Expert analysis on U.S. markets and macro trends, delivering clear perspectives behind major market moves.
Daily stocks & crypto headlines, free to your inbox
Comments
No comments yet