Elon Musk's Tesla To Discuss Low-Cost Car With Indian Government — Aims For A Price Below Model 3 in China: Report
Portfolio Pulse from Arpit Nayak
Tesla Inc is set to resume talks with the Indian government to establish a factory in the country to manufacture low-cost EVs, including a new $24,000 car. The proposed EV model would be 25% cheaper than Tesla’s current lowest-priced offering, the Model 3 sedan in China. This move is part of Tesla's effort to diversify beyond China and tap into the growing demand for electric vehicles in India.
July 25, 2023 | 5:40 am
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Tesla's plans to establish a factory in India to manufacture low-cost EVs could potentially increase its market share in the country. The proposed $24,000 EV model would be 25% cheaper than Tesla’s current lowest-priced offering, the Model 3 sedan in China.
Tesla's move to establish a factory in India to manufacture low-cost EVs is a strategic decision to tap into the growing demand for electric vehicles in the country. This could potentially increase Tesla's market share in India and boost its revenues. The proposed $24,000 EV model, being 25% cheaper than Tesla’s current lowest-priced offering, the Model 3 sedan in China, could attract a larger customer base in India.
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