Tesla Inc. Chief Executive Elon Musk on Friday indicated that the US electric carmaker will make a swoop into the Indian market in 2021.
“Next year for sure,” Elon Musk said on Twitter in reply to a post by Tesla India Club with a photograph of a T-shirt with the message: “India wants Tesla”.
Musk, who holds a different identity amongst the Twitterati wrote, “Thanks for waiting!”
The entry of Tesla could come at a time when the Centre has focused more on promoting the use of the manufacture of electric vehicles in India.
The automobile sector in India is already reeling from a slowdown in demand in 2019.
The sector was further hit by the COVID-19 pandemic.
With the worst-hit market, the carmakers and automobile companies have sought the help of the government to push their sales.
Last year, Elon Musk commented on Tesla’s arrival to India in response to a Tweet.
India is now likely to become the next automatic frontier for Tesla after China.
The US electric car maker recently had cut their starting price of their Chinese made Model 3 Sedans by about 8 percent. The new price is now about 249,900 Yuan ($36,805).
Previously, the starting price for Model 3 Sedans made in Shanghai Tesla factory with a standard driving range was 271,550 Yuan. This price was after the state purchase subsidies.
Tesla started to deliver cars from the Shanghai factory in December 2019. This step was helpful in saving shipping costs and tariffs for imported models.
In August of this year, Tesla sold more than 11,000 vehicles in China.
The US electric carmaker is also building a new car manufacturing capacity for Model Y sports-utility vehicles in Shanghai.
In the year 2020, Tesla shares rose to about 495 percent. The rally skyrocketed its market value to nearly $400 billion.
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