Tesla moves into India, where BYD has stalled
Tesla has expanded to a India, a new market the EV company has been trying to enter for years. The company opened its first showroom on the subcontinent in Mumbai’s financial district, with a second showroom expected in New Delhi this month. There, Tesla is selling Model Ys starting at $70,000. That’s a steep increase from the $45,000 starting price tag in the US, thanks to India’s 70% to 110% tariffs on imported cars.
Still, the move represents a toehold in a potentially huge untapped market for Tesla, as the company struggles with vehicles sales in its three major markets: the US, China, and Europe.
Tesla’s major global rival, China’s BYD, has a limited presence in India but the country has blocked it from expanding there, saying BYD needs to “play by the rules of the game.”
Tesla was recently up 0.3% premarket.
Still, the move represents a toehold in a potentially huge untapped market for Tesla, as the company struggles with vehicles sales in its three major markets: the US, China, and Europe.
Tesla’s major global rival, China’s BYD, has a limited presence in India but the country has blocked it from expanding there, saying BYD needs to “play by the rules of the game.”
Tesla was recently up 0.3% premarket.
