Cheapest EV - Business Outrank

Tesla led by Elon Musk is getting ready to venture into the Indian market, nevertheless, the cheapest EV it will be offering will still be expensive. As of now, even after cutting down on import duties to 15-20 per cent, the cost of the least expensive car by Tesla is expected to start from ₹35-40 lakh, a report by global capital market firm CLSA says. The Model 3 in the U.S. starts at $35,000 (₹30.4 lakh) factory direct, but once you factor in Indian road taxes, insurance and other costs, the final price is substantially higher. The report also points out that Tesla’s cheapest EV will cost 20-50 per cent more than some of the domestic electric cars including Mahindra XEV 9e, Hyundai e-Creta and Maruti Suzuki e-Vitara, which means it is unlikely to disrupt the EV market in India. CLSA also commented that the effect on the major Indian automakers will be limited due to the relatively low level of EV sales in the Indian market compared to countries like China, Europe, and the U.S. Currently, Tesla sells its vehicles in India through import, but plans to start selling in Delhi and Mumbai soon, and is already recruiting staff. But to make its cheapest EV more accessible, Tesla must set up a local manufacturing facility. This is because, under India’s EV policy, Tesla can get lower import duties on up to 8,000 units each year if it invests more than ₹4,150 crore in a domestic factory.

What's Hot

One State, One Regional Rural Bank (RRB) Reform to Launch on May 1, 2025

Northern Ireland Faces Legal Battle Over £300m Cross-Border Power Project

UK Interest Rates Should Drop to 4% Amid Global Tariff Shock, Say Experts

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Cheapest EV

Cheapest EV by Tesla in India to Cost ₹35-40 Lakh Despite Tax Cuts

One State, One Regional Rural Bank (RRB) Reform to Launch on May 1, 2025

Northern Ireland Faces Legal Battle Over £300m Cross-Border Power Project

UK Interest Rates Should Drop to 4% Amid Global Tariff Shock, Say Experts

Adani Ports Rallies as Colombo Terminal Operations Begin

Our Picks

One State, One Regional Rural Bank (RRB) Reform to Launch on May 1, 2025

Northern Ireland Faces Legal Battle Over £300m Cross-Border Power Project

UK Interest Rates Should Drop to 4% Amid Global Tariff Shock, Say Experts

Most Popular

One State, One Regional Rural Bank (RRB) Reform to Launch on May 1, 2025

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Cheapest EV