Tesla Launches Model Y in India Priced from $69,770

MUMBAI: Elon Musk’s Tesla has officially launched sales of its Model Y vehicles in India, with prices starting around $69,770, according to their website. This announcement comes as the company prepares to unveil its inaugural showroom in Mumbai, the nation’s financial hub.

India ranks as the third largest car market globally. However, electric vehicles (EVs) currently make up a negligible portion of sales, largely due to concerns over the availability and convenience of charging stations, which dissuade many wealthy consumers from transitioning to electric.

As Tesla enters a market still dominated by gasoline and diesel cars, it will primarily compete against established luxury brands such as BMW and Mercedes-Benz within the premium EV sector.

In contrast, domestic competitors like Tata Motors and Mahindra dominate the mass-market segment.

Security personnel were present at the showroom, where the Tesla name was prominently displayed in black against a stark white backdrop. A Model Y, concealed beneath dark covers, was partially visible through the glass of the gated office complex as of Tuesday.

With access strictly regulated, few fans or curious onlookers gathered near the location.

Musk has long sought to establish a presence in India, the most populous nation, where affluent consumers are indulging in high-end purchases ranging from luxury apartments to fine jewelry and extravagant bathrooms.

The Indian government is striving to increase the share of EVs within national car sales to 30% by 2030, up from a mere 4% today, and is offering tax incentives to foreign automakers that commit to some local manufacturing.

However, this initiative has had limited allure for Musk, even as efforts to attract Tesla were made.

Tesla’s launch coincides with a new pre-order campaign introduced by VinFast for its VF7 and VF6 electric SUVs in India.

The Model Y rear-wheel drive is priced at 6 million rupees ($70,000), while the long-range rear-wheel drive model costs 6.8 million rupees ($79,000).

For comparison, the starting price in the U.S. is $44,990, in China it’s 263,500 yuan ($36,700), and in Germany it is 45,970 euros ($53,700).