Tesla Motors say will enter Indian market by 2017
US-electric car major, Tesla, will enter the Indian market by next year.
The company's CEO Elon Musk in a tweet on Sunday said, "We are working on an exact date, but Tesla will be in India before (Model) 3 production starts.
— Elon Musk (@elonmusk) April 2, 2016
Musk said this in reply to a tweet that asked by when will Model 3 be available in India.
Tesla on Friday unveiled the much awaited Model 3 and said that it would enter India with the car.
Though the company will begin global roll-out of the vehicle in late 2017, it has started taking orders at the starting price of $35,000 (approximately Rs 23.2 lakh).
Tesla has already received 2,53,000 orders by 7am on Sunday for Model 3 at the end of the third day since the launch.
— Elon Musk (@elonmusk) April 2, 2016
Elon Musk, CEO, Tesla took to twitter to inform that the company has received around 180,000 orders in just 24 hours after the announcement.
This gives the company business of approximately $7.5 billion in a day.
In 2014, Tesla had said it was keen to enter the Indian market and even identified the country as one of the possible locations to set up a manufacturing plant in Asia. It, however, said high duty on imported vehicles and lack of a separate category for electric cars prevented it from selling vehicles here despite having a huge potential.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets
09:52 AM IST