In discussions with the government a few weeks ago, Tesla reportedly sprang a surprise. It said it would sell its electric car for ₹20 lakh in India and set up a plant with an annual capacity of 500,000 units.
With that, the company has sparked a new debate. It has models that retail at a starting price of around $41,900 (₹34.39 lakh) in the US and had lobbied for a duty reduction in completely built-up units (CBUS) imported from China just a year ago - which the Indian government rejected. Can Tesla make an electric car at this price?
Tesla ambition Founder Elon Musk's to build a high-volume affordable car is not new. In 2020, Musk had announced that he would come up with a $25,000 (₹20.5 lakh) car in three years. That did not happen.
But the ambition to build a compact or subcompact car that has a large market in Asia and Europe fits in with broader ambitions. By 2030, the company plans to sell 20 million Teslas across the globe from a mere 1.3 million last year. So Musk will need to come out with car models that can be sold in large volumes.
To achieve this, Musk has clearly said he will need 10 to a dozen gigafactories beyond the five located in the US, China and Germany. One of them could be in India, though Musk has been scouting other venues from Indonesia to South Korea and Latin America.
Dit verhaal komt uit de July 20, 2023 editie van Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Al abonnee ? Inloggen
Dit verhaal komt uit de July 20, 2023 editie van Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Al abonnee? Inloggen
Trump policies spark surge in foreign stocks
US President Donald Trump has promised to create an age of American exceptionalism with policies that put the US first, and ahead of other nations.
Robots to AI: Tech boost for bullet train project
New tools and processes speed up surveys, improve the use of labour and equipment, and strengthen safety, reports SHINE JACOB
A Facebook insider's exposé
The publisher of Careless People kept the existence of this memoir a secret until a few days ago—with good reason, it turns out.
ICEGATE making functioning of EOUs and SEZs difficult
In her Budget speech last year (July 2024), the Finance Minister said that all the services of Customs shall be digitized and made paperless over the next two years.
Trains increase coal freight capacity; power units stock up before summer
After breaking all records for hot weather and high power demand in 2024, both metrics are set to rise even further this summer.
Neo banks turn to India to set up GCCs
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts.
Documented Fraud: How Fake Websites Are Cheating People
Scammers are duping people by creating fake domains of websites used to make government identity documents like Aadhaar and PAN cards.
Not in a hurry: Minister says govt to follow due process on Digital Competition Bill
The Indian government is not in a hurry to bring the Digital Competition Bill and wants to follow due process with further deliberations on the proposed legislation before introducing it, Minister of State for Corporate Affairs Harsh Malhotra said on Sunday.
Doctor can't be blamed for patient's negligence
Kritika developed a mild swelling in her right eye.
Oil imports fell 11% in Dec as supplies from Russia, Saudi fall
Lower supplies from Russia and traditional West Asian suppliers such as Saudi Arabia and Kuwait dragged down India's crude oil imports by 10.6 per cent in December 2024 to $10.34 billion from $11.57 billion in December 2023, according to official data.
