Tesla to enter the Indian market, says Elon Musk, the CEO of Tesla. According to a Twitter post, the EV brand’s CEO is hoping the launch of Tesla in India, either in 2019 or most probably by 2020.
This post comes after an incident when Elon pointed out some challenging government policies and regulations that delayed the carmaker’s entry in India. He asked for a temporary waiver on the government regulations and import penalties until a factory is set up locally.
Since a long time, the Narendra Modi government was trying to woo the brand to India, and with such a post from Elon Musk, it seems that their efforts are finally paying off.
After 4 years of constant planning, Tesla launched its first car-manufacturing unit in China – $5 billion factory. Now, it is planning to enter the Indian market. Exploring and entering the overseas market can be seen as an effective marketing strategy to be protected against any decrease in demand on the home turf.
Although India seems to be a fruitful market for electric vehicle brands, yet it cannot be ignored that the country has minimal government support for paucity of charging stations and cleaner technology.
According to Bloomberg NEF data, while India has only 6,000 passenger electric vehicles, china has around 1.35 million passenger electric vehicles and 425 charging points. The charging points are expected to increase to 2800 by the year 2022.
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