CALIFORNIA: There is some good news coming from Palo Alto , California based electric car specialist is planning to kick-start India operations in the coming summer. The outfit's CEO Elion Musk tweeted India launch plan as a reply to a user who enquired about the same on Tuesday.
The India-bound model from Tesla is the Model 3 , unveiled in April 2016. The Model 3 is five-seater car inspired by the design of the bigger sibling, Tesla Model S. During the product unveiling, Musk confirmed company's plan to sell the Model 3 all over the world including India. Bookings were open for Indian costumers as well. Within a week after launch, Tesla Model 3 received over 3.25 lakh bookings.
At an earlier event PM Narendra Modi's visit to Tesla's Silicon Valley factory, Musk has also discussed on the idea of setting up a battery plant in India. But what cannot be contended is the auto giant's inetrest in the Indian market.
Also, this should com as a surprise . According to the Society of Indian Automotive Manufacturers (SIAM) , India automotive sector is worth $74 billion today and is expected to achieve a turnover of $300 billion by 2026. At the current rate, the industry is poised to become the third-largest auto market by the end of the current fiscal year.
This comes at a good time for the Indian market too, with the government's increased focus on digitization and its ultimate aim to be a 100% electric vehicle nation by 2030. In fact, it is currently working on a scheme to provide electric cars on zero payment.
Power Minister Piyush Goyal, in an event organized by CII Young India Last year , had said that "India can become the first country of its sike which will run 100% of electric vehicles.We are trying to make this programme self finance."