Tesla to enter Indian market in 2021? Check details here
New Delhi | Jagran Auto Desk: American electric automaker Tesla may enter the Indian market in 2021, its CEO Elon Musk indicated on Friday. Responding to a twitter post that asked if there was any progress with regards to the company’s plans to make a foray in India, Musk wrote, “Next year for sure.”
Tesla’s entry to the Indian market has been hinted at multiple times in the past. The only asian market where the company has presence presently is in China.
Next year for sure— Elon Musk (@elonmusk) October 2, 2020
Musk has shown interest in bringing Tesla to the Indian market for a few years now. In 2015, Prime Minister Narendra Modi had paid a visit to the headquarters of tesla motors at Palo Alto, California.
Tesla was founded in 2003 by engineers Martin Eberhard and Marc Tarpenning, who wanted to prove that electric cars can be better than gasoline-powered cars. In the first half of 2020, Tesla accounted for 81 per cent of the battery electic vehicles sold in the United States.
The development has come day after American motorcycle maker Harley-Davidson shut its manufacturing and sales operations in India due to sluggish business. The company's move to exit Indian market comes in light of poor sales record and a dented demand outlook impacted by the COVID-19 pandemic.
The company said it now expects total restructuring costs of about $169 million in 2020, and this will also include a workforce reduction of about 70 employees in India, a market where its annual sales volumes account for less than 5% of the company's total, news agency Reuters reported.
Posted By: Lakshay Raja