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New Delhi. Billionaire Elon Musk is coming to India for the first time at the end of this month to spend at least 48 hours in the country. As all eyes are on what billionaire Musk will announce during his meeting with Prime Minister Narendra Modi and industry leaders, Tesla lovers have just one question: how can they finally ‘Make in India’, When will we be able to drive affordable EVs?
An affordable Model 3 is an entry-level Tesla that may only be feasible with local manufacturing of battery components and a robust EV supply system. For this, Musk will definitely have to make an important announcement during his first visit to the country. At present, Tesla prices are almost the same across the world. The price of the base variant of Model 3 is more than $ 40,000 (about Rs 33.5 lakh).
With the end of import duty, it will be possible to make affordable Tesla.
According to Soumen Mandal, senior analyst at market intelligence firm Counterpoint Research, setting up local production by Tesla will eliminate import duty, paving the way for an affordable Tesla car. Also, cost reduction can be achieved if Tesla cars manufactured in the country come with fewer features than the cars available globally. Mandal said that some hardware required for Full Self-Driving (FSD) mode can be eliminated and Advanced Driver Assistance System (ADAS) Level 2 can be included.
Production of 5 lakh electric vehicles possible annually
Tesla can eventually produce 5 lakh electric vehicles annually in India starting at Rs 20 lakh. To make a car worth Rs 20 lakh, Tesla can also have a battery pack with a capacity of less than 50 thousand watts and the electric motor can be of low power. Electronics in the vehicle can also be reduced with a smaller center display. According to industry experts, Tesla can generate revenue of at least $ 3.6 billion in India by 2030. Let us tell you that the starting price of Fortuner in India is more than Rs 30 lakh while the price of Innova starts from around Rs 20 lakh.
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Tag: electric vehicle, electric vehicles, Elon Musk, Tesla
first published : April 13, 2024, 7:33 pm IST
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