Tesla Inc will come to India early next year, Union Transport Minister Nitin Gadkari told a national daily on Monday. The electric carmaker will start with sales and then might look at assembly and manufacturing based on the response, the minister told The Indian Express.
The Modi government, time and again, has shown its interest in reducing its oil dependence and cut down on pollution, but its efforts to promote electric vehicles have been stymied by a lack of investment in manufacturing and infrastructure such as charging stations.
The first model to be launched will be Model 3, the cheapest among Tesla vehicles, with prices starting at over $74,739 (Rs 55 lakh), according to a report in the Economic Times on Saturday.
Sources said that Tesla will resume its bookings in India from January 2021 and the Model 3 will come into India as Completely Built Up (CBU) and is set to be priced around Rs 55-60 lakh. It will be positioned as a luxury car and is unlikely to face competition in India.
Chief Executive Officer Elon Musk on Sunday confirmed India foray in 2021 in a reply on Twitter, but said it would not happen in January.
In October, the government of Maharashtra had invited Tesla to the state, weeks after Musk suggested entering the country next year.
Shares of the electric-car maker were up 2% in premarket trading.