Elon Musk's Tesla To Sell Model Y From $70,000 In India, Launches First Showroom In Mumbai

Tesla Inc. TSLA has officially entered the Indian car market with the EV giant offering the Model Y starting around $70,000 as Elon Musk's EV giant opened the doors to its maiden outlet in the country.

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What Happened: Tesla will sell the Model Y rear-wheel drive trim in India for over 6 million INR (Indian National Rupee) or approximately $70,000, according to a listing on Tesla's official Indian website.

Tesla will also offer the Model Y long-range rear-wheel drive will retail for 6.8 million INR (roughly $79,000). The company will also offer FSD or Full Self-Driving in the country for an additional 600,000 INR, or approximately $7,000.

Source: Tesla India

The company's first official outlet in the country would be located in India's financial capital, Mumbai.

Why It Matters: Musk's EV giant had been eyeing an entry into the Indian market for some time. However, steep import duties levied by the Indian government had posed challenges for Tesla.

However, the government’s slashing of duties from 110% to 15% on luxury EV imports proved to be a major boost for the company's India ambitions. In the build-up to its entry, Tesla also tested a Model Y in Mumbai.

Elsewhere, Musk has teased an "epic" demo by Tesla scheduled for the end of the year, leading to speculation about the company's Optimus humanoid robots, due for a major redesign, and the highly anticipated Cybercab.

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