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Tesla plans: Venturing into the Indian market

Fiinews by Fiinews
November 7, 2018
in Investment, Manufacturing, Technology
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US EVs on Indian roads

Sources: Telsa. A model of EV car.

Tesla Inc, the US-based electric car major, will make a complete foray in the Indian market by 2020, starting a phase establishing from 2019, its CEO Elon Musk has confirmed through a tweet.

For now, Tesla is looking for ‘partial presence’ in India, Africa, and South America next year followed by a complete foray in 2020, he said, responding to a question through @elonmusk

The company has presence in North America, Europe and China.

Recently asked service team to expand locations to all population regions (not just major metros) in North America, Eastern Europe, China & Japan by end of next year.

“We are completely missing vast geographic regions in some cases,” he said.

The Indian government plans to allow 100% direct investment in electric vehicles for public transport and 40% in personal mobility by 2030.

The government is pressing on electric vehicles in hope to cut down on fuel-powered transportation system which is a huge cost on petroleum supplies and adds to the already worsening environment across the country.

India imports more than 80% of its crude oil supplies, the main cause of its widening trade deficits with oil export countries.

High targets set for developing renewable energies – solar and wind among others as well as electric vehicles would help manage the country’s surging import bills. fiinews.com

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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
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