As the co-founder and CEO of Tesla, Elon Musk is scheduled to visit India later this month for the first time, staying for at least 48 hours. Everyone is waiting to see what the billionaire will reveal when he meets with business executives and Prime Minister Narendra Modi. During his first visit to the nation, Musk will undoubtedly have a significant statement to make regarding the establishment of a robust electric vehicle supply system and the ability to produce battery components locally.
This will enable a more affordable Model 3, which will be the beginning of Tesla’s entry. Right now, car prices are almost the same everywhere. The Model 3’s base model costs more than $40,000, or around Rs 33.5 lakh.
Senior analyst Soumen Mandal of market research firm Counterpoint Research claims that local manufacture by Tesla will remove the import duty, opening the door for a reasonably priced vehicle.
Additionally, the cost savings could be realised if domestically produced Tesla vehicles have fewer features than those sold internationally. Mandal informed IANS that “Advanced Driver Assistance System (ADAS) Level 2 could be included” and that some hardware needed for Full Self-Driving (FSD) mode could be removed.
Tesla EV Cost in India
Tesla may eventually produce 5,000 electric vehicle annually once they are priced at Rs 20 lakh in India. The company may also use a battery pack that is less powerful than 50kW and lower-powered electric motors in order to build a car that costs Rs 20 lakh. A smaller central display could also mean less technology inside the car. The Indian government reduced the customs charge on imported cars from 100% to 15% (with certain riders) under the new EV policy. Establishing electric vehicle manufacturing facilities in the nation will cost at least Rs 4,150 crore, or $500 million. Industry insiders estimate that by 2030, Tesla may bring in at least $3.6 billion from sales in India.
