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Tesla is scouting locations for its first showroom
The US electric vehicle (EV) giant Tesla is planning to expand worldwide with its focus being on emerging countries like India. According to some sources Tesla is scouting locations for its first showroom in India. Mumbai and Delhi are the prime targets. According to two closely linked sources, the sales will begin in the latter half of this year.
They are planning to start with a showroom of 3,000 to 5,000 square feet (280-465 square metres) and each city will have a service hub, said one of the people familiar with the plans. The company experienced a global delivery decline in the first quarter of the year and is now making efforts to expand into global markets.
According to a source, the production of right-hand driver cars has begun in the German plant of Tesla to be exported to India. Last month, India reduced the import taxes of electric vehicles by 15% from the high of 100% for the automakers with a minimum investment of 500 million dollars and a manufacturing unit in India.
Elon Musk the CEO of Tesla is all set to reveal his investment projects during his two-day India visit starting from Sunday. He is also expected to meet PM Modi following their last meeting in New York.
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The location hunt started last month when the executives had talks with several real estate developers as their main target is high street and mall sites. The company wants to start the construction as fast as they can as they want to open the showroom in 2024 only. A source confirmed the news by calling it confidential information.
Tesla is seeing slow growth in the market of the USA and China. According to some reports they have called off the plans of making an affordable vehicle which was expected to grow mass market for Tesla.
India being the world's third largest auto market is quite behind in the EV market with only 2% of total car sales in 2023 being EV, but the demand is expected to rise in the coming time as the government has said that it wants the number to be raised to 30% by 2030.
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