May 21, 2025 01:59 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Russia, Ukraine will immediately start negotiations for ceasefire': Donald Trump after call with Putin | 'Jill and I have learned that we are strongest in the broken places': Joe Biden on cancer diagnosis | Rahul Gandhi targets Jaishankar over Op. Sindoor again, BJP says LoP speaking Pak language | Supreme Court orders SIT probe into Madhya Pradesh minister's remarks on Colonel Sofiya Qureshi | Bengaluru: Woman killed after wall collapses on her after heavy rainfall | Pak forces targeted Golden Temple after India conducted Operation Sindoor: Army | YouTuber Jyoti Malhotra, arrested for 'espionage', travelled to Pakistan ahead of Pahalgam attack | Centre picks Shashi Tharoor to head all-party delegation for 'exposing' Pak-backed terrorism globally | Rape convict, survivor express willingness to get married; exchange flowers in Supreme Court | 'Are nukes safe with irresponsible and rogue nation like Pakistan?': Rajnath Singh questions world
Tesla said it is holding off on launching its vehicles in India despite growing signs of interest. (Image credit: wikipedia.org)

'Carefully figuring right time to enter Indian market': Tesla says, citing high import tariff concerns

| @indiablooms | Apr 23, 2025, at 04:39 pm

Tesla’s Chief Financial Officer Vaibhav Taneja said the electric carmaker is still deliberating the right time to enter the Indian market, citing concerns over the country’s steep 100 per cent import duty, which is making potential buyers uneasy about high prices.

“The same car which we're sending is 100 per cent more expensive than what it is. So that creates a lot of anxiety. People feel they're paying too much for the car ... That's why we've been very careful trying to figure out when is the right time (to enter India),” Taneja said during Tesla’s earnings call, reported Reuters.

His remarks come shortly after Tesla CEO Elon Musk confirmed he would visit India later this year, signalling that the company is preparing to launch its EVs in the country.

In a step towards that, Tesla recently leased its first showroom space in Mumbai’s Bandra Kurla Complex.

The company has also advertised more than 20 job openings in India.

According to Reuters, customs data show Tesla imported Model Y vehicles into the country from Germany at a shipment value of $46,000.

Taneja’s comments come at a time when both New Delhi and Washington are working to resolve tariff-related issues and advance towards a broader trade pact.

Meanwhile, Tesla reported a sharp drop in its financial performance for the January–March quarter.

The company’s net profit declined 71 percent year-on-year to $409 million, while revenue also fell 9 percent to $19.34 billion.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu