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Tesla's Musk hints at India launch by 2020

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Capital Markets View – January 2021


Tesla's Musk hints at India launch by 2020

Tesla Inc. CEO Elon Musk on March 15 hinted at launching electric cars in India in 2019 or 2020.

Responding to a Twitter user's question about a possible Indian rollout, Musk said: "Would love to be there this year. If not, definitely next!"

The executive's brief statement comes less than a year after he identified "some challenging government regulations" as a roadblock for Tesla's India launch.

Musk's tweet comes as China's customs office cleared the launch of Model 3 imports in the country. The company is in the process of building its first manufacturing plant in Shanghai.

Meanwhile, local Indian manufacturers Mahindra & Mahindra Ltd. and Maruti Suzuki India Ltd., as well as Japanese carmakers Honda Motor Co. Ltd. and Nissan Motor Co. Ltd. have earlier revealed plans to launch electric vehicles in the country. In September 2018, Nissan began a study to determine the viability of mass-marketing electric vehicles in India.