Tesla is the biggest name in the electric vehicle industry, and they are known because of their quality product. The Tesla Model S is one, if not the first, of the most cutting-edge electric cars on the market right now. They have their unit all the major counties. Tesla cars yet have not their office in India so far. Anyway, because now Tesla, I am going to establish a research center in Bangalore, the capital of Karnataka.
Tesla in India:
According to an Economic Times report, “Tesla held exploratory officials talks with Karnataka government on September 10. They are seeking a possible investment from the world’s most valuable automaker in a research facility in Bangalore.
Tesla is reportedly interested in the idea, and to further entice it, Karnataka state officials will meet again with the Tesla team later this month.
Tesla’s tactic in India may not just be a media rumor. First, Elon Musk, Tesla’s fickle and maverick CEO, had previously talked about a lot to enter the Indian market. But what prevents this decision is the high import duties imposed by India on these luxury cars. Musk tweeted it last year.
But now things seem to be different. India is looking at the electric vehicle (EV) market with renewed interest.
Another thing is that, with the world a bit reluctant to do business with China, where Tesla has a Giga factory, India is considering taking advantage of the change in the global scheme of things.
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Big order for India
Talking about taking the place of China is one thing, but getting there is another. Because China has done everything possible to bring Tesla to its shores. For example, in China, Tesla Model 3s are exempt from the 10% sales tax and also provide a subsidy of around € 3,500 for each car. In addition, Chinese banks have injected money to help Tesla lease land in Shanghai for its Giga factory.
Sales of electric vehicles, excluding electric rickshaws, in India increased by 20% and jump up to 1.56 lakh in 2019-2020.
If this deal gets final and the company opens its office in India, it will be a great financial jump for the Indian market. However, according to the Bangalore Research Center, if that happens, it could herald a major phase of change in Indian automotive history.
Also, employment options for Indian get increase once the company enters an Indian market.