Skip to content 
Search

Latest Stories

Tesla set to open first showroom in India

Reports said that the company is not currently interested in building a factory in India

Tesla set to open first showroom in India

Elon Musk and Narendra Modi (right)

US CARMAKER Tesla is finally making its official debut in India with the opening of its first showroom in Mumbai.

The firm, led by Elon Musk, will unveil the new “Tesla Experience Centre” on Tuesday (15) at Maker Maxity Mall in the Bandra Kurla Complex, one of the city's top commercial hubs.


This marks Tesla’s first formal step into the Indian market, after years of delays and speculation. According to official records, the company has already imported around $1 million (£780,000) worth of cars, charging equipment, and accessories into the country—mostly from China and the US.

Among the imported vehicles are six units of the popular Model Y, with five standard versions valued at £25,350 each and one long-range model at £35,880. Several Tesla Superchargers were also shipped in as part of the initial setup.

Although India has been eager to welcome Tesla, including introducing policies to encourage local production, the company has chosen to start with imports.

This means Tesla will have to pay high import duties - nearly 70 per cent - making its cars much pricier in India compared to other markets. The government has offered lower duties of 15 per cent for companies willing to invest $500m (£390m) and set up manufacturing locally, but so far, Tesla has not agreed to those terms.

Reports suggest Tesla is not currently interested in building a factory in India. Musk had previously planned a visit to the country in 2024, during which he was expected to announce a multi-billion-dollar investment, but the trip was cancelled at the last minute.

Despite the absence of local production, Tesla appears committed to growing its presence. It has started hiring in India, filling positions for showroom advisors, service engineers, vehicle testers for its Autopilot system, and other roles in cities like Mumbai and Delhi.

The Indian EV market is growing rapidly, with local player Tata Motors and Chinese firm BYD already established in the sector. Tesla’s entry is expected to increase competition and raise interest in premium electric vehicles, even as high costs remain a concern for most buyers.

(with inputs from agencies)

More For You

Asian firm acquires Kings Court Hotel for £2.75m

UK-based Nanak Hotels acquired the 60-room Kings Court Hotel in Warwickshire for £2.75 million. (Photo: Colliers International UK)

Asian firm acquires Kings Court Hotel for £2.75m

UK-BASED Nanak Hotels recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.

Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.

Keep ReadingShow less
Priya Nair becomes first woman CEO in Hindustan Unilever's history

Priya Nair (Photo: Unilever)

Priya Nair becomes first woman CEO in Hindustan Unilever's history

PRIYA NAIR has been appointed as the CEO and managing director of Hindustan Unilever Ltd (HUL), effective from August 1. She will be the first woman to lead the company in its history.

The announcement was made by HUL on Thursday (10). Nair, who currently serves as president, Beauty & Wellbeing at Unilever, will take over the role from Rohit Jawa, who will step down on July 31 to pursue other interests.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy shrinks again in May, hitting Labour’s growth plans

THE UK economy contracted unexpectedly in May, marking the second consecutive monthly decline, according to official data released on Friday. The figures present a challenge for the Labour government as it attempts to revive economic growth.

Gross domestic product fell by 0.1 per cent in May, following a 0.3 per cent contraction in April, the Office for National Statistics (ONS) said in a statement.

Keep ReadingShow less
SBI UK cuts mortgage rates

The bank's commitment to green lending reflects focus on sustainability (Photo: Getty Images)

SBI UK cuts mortgage rates

BANKING major State Bank of India (UK) has cut interest rates on its buy-to-let mortgage products to help landlords reduce borrowing costs.

The bank said the rate cuts would help landlords invest in rental properties and meet growing demand for rental homes across the UK.

Keep ReadingShow less