Elon Musk hints at launching Tesla in India
Although India is the fifth largest economy in the world by GDP, Tesla still has to launch in this country. According to CEO Elon Musk, that shouldn’t take too long anymore.
Tesla is undoubtedly the most important electric automotive brand in the world. Although this American car manufacturer still produces relatively low volumes, it managed to enter major markets like Europe, China and the Middle East.
India however has been on the waiting list.
That could soon change, according to a Tweet from Tesla CEO Elon Musk. In response to an Indian customer that holds a Model 3 reservation, Musk said that Tesla would hopefully launch soon.
Although India is not China in terms of car sales, it is an important market to take into consideration. The yearly new car sales volume is about 3,5 million, of which less than 0,1% is electric.
However, the Indian government intends to make a major shift to electric by 2030, in order to become less dependent on oil imports. In other words, the Indian electric car market has a lot of upward potential the coming years, which Tesla could benefit from. Who could suffer from this move are local manufacturers Mahindra and Tata, who will have to step up their game in the electric arena.