tesla

Tesla Motors, an American automotive and energy storage company that designs, manufactures, and sells luxury electric cars is all set to set its foot in Indian market.

Tesla has unveiled $35,000 Model 3 car, one of its most affordable, on Friday morning at the company's design studio in Hawthorne, California. Tesla's founder & CEO Elon Musk tweeted that his company has identified India as a market for Tesla Model 3 Car.




The Model 3 cars will go into production in late 2017. Tesla is accepting a token of USD 1,000 for pre-orders for the Model 3 and had received over 115,000 orders for the car before its launch. Musk on stage claimed that the Model 3 will have a range of 215 miles (approx 350 kilometers) on a single charge and the company would work to improve that by the time the car hits the road.




The company said once the production starts, deliveries will begin in North America.

When the production is ramped up, deliveries in Europe, Asia-Pacific region and right-hand drive markets will happen.

Last year, on September 27, PM Modi visited Tesla Motors facility in Silicon Valley, US.

The Model 3, if imported into India as a complete built unit (CBU), will attract 125% customs duty and would be priced around Rs 50 lakh, equivalent to the basic version cost of Mercedes-Benz E class saloon.

Notably, this isn't the first rendezvous of Tesla with India. Last year, Musk had tweeted that setting up a Gigafactory in India would make sense in the long term given the country's renewable energy needs.

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