Mumbai4 hours ago
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The world’s largest electric vehicle (EV) manufacturer Tesla will open its first showroom in India in Mumbai. It will be held at Bandra Kurla Complex (BKC) in Mumbai. The company has recently finalized the deal for this.
According to the sources of the property market, Tesla is replacing 4,000 square feet on the ground floor of a commercial tower in BKC. Here she will showcase and sell her car models. The company will pay a monthly lease rent of about Rs 900 per sq ft or about Rs 35 lakh for this place. The lease agreement is for five years.
Tesla’s next store may open in Delhi
It was reported that the company would open its store in Delhi and Mumbai. It is expected that Tesla will open a second showroom at Delhi’s Aerosity Complex. CEO Ellon Musk recently met PM Modi’s visit to America. After this, the company took out vacancy for 13 jobs in India.
After opening the showroom in Mumbai’s BKC and giving vacancy for a job in India, hope has increased that Tesla will take entry in India by April and start selling cars in India. Tesla will not currently set up a manufacturing unit in India. She will bring cars in Gigafactory in Berlin-Brandenburg, Germany.
On 13 February, PM Modi met Ilan Musk during the US visit.
Tesla will bring budget segment car in India
According to reports, the company is preparing to launch the most affordable EV here. It can cost 25 thousand dollars (21.71 lakh rupees). Which model it will be has not been informed. However, according to the existing import policy of India regarding EV car, 21 lakh rupees can be up to Rs 36 lakh in the Indian market.
Right now electric cars coming from outside are charged up to 75% basic custom duty. However, if the companies do MOU with the government, then the custom duty on cars above $ 35,000 will cost 15%. This discount on duty will be available only on 8 thousand taxes in a year.
EV policy easier entry of companies in India
The Government of India can rollout an electric vehicle policy in April this year, in which a provision has been made to impose only 15% duty on companies that import electric vehicle. Therefore, the company can plan to set up manufacturing plants and build cars in India later.
Government reduced import duty from 70% to 15%
The Central Government approved the EV policy- ‘Scheme for Promotion of Manufacturing of Electric Passenger Cars in India’ ie (Spmepci) in March last year under its vision to make India a hub of electric vehicles manufacturing.
In this policy, the government has reduced import duty from 70% to 15% to give entry to car companies from all over the world. Foreign companies can take advantage of this exemption on 8000 taxes every year.
Discussion of model 3 and Y
Tesla can initially launch model 3 and model Y cars here. However, the price of both models is more than 44 thousand dollars in the global market. It is expected that the company will launch it at a low price.
