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Tesla Inc (NASDAQ:TSLA) has officially launched its Model Y in India, listing prices starting at ₹59.89 lakh (approx. $69,700) for the rear-wheel drive variant. The long-range version is priced at ₹67.89 lakh, according to Tesla’s India website. These prices, which exclude taxes, are significantly higher than the Model Y’s U.S. base price of $44,490 and Bloomberg’s reported $56,000 sticker price. The vehicles will be imported from Tesla’s Shanghai Gigafactory in China.
Sales will initially be limited to New Delhi and Mumbai, where Tesla is also opening its first Indian showrooms this July. The Mumbai showroom is expected to open this week, followed by a New Delhi location by month-end.
Despite the launch, Tesla has no current plans to set up local manufacturing in India. Previous discussions with the Indian government on factory establishment failed to produce a deal, leaving Tesla reliant on imports that incur steep duties—contributing to the higher price tag.
Tesla’s entry into India comes amid slowing sales in its key markets, including the U.S., China, and Europe, prompting the EV giant to explore new growth avenues. However, the Indian EV market presents challenges. Local automakers like Tata Motors (NSE:TAMO) and Mahindra & Mahindra (NSE:MAHM) offer competitively priced EVs that cater to the price-sensitive Indian consumer.
Tesla will also face stiff competition in the premium EV segment from China’s BYD Co Ltd (HK:1211), which has an established presence and growing footprint in India. With no local production and a premium price point, Tesla’s success in the Indian market will hinge on brand appeal and luxury positioning rather than affordability.
