Tesla CEO has hinted towards extending the brand in the Indian market

BUSINESS / Corporate:

In what it seems like the most path-breaking news to start the year, Elon Musk, the CEO of Tesla Motors, tweeted saying that he expects Tesla to enter the Indian market in 2019.

The expansion to India has been in Tesla’s interest. Back in 2015, Musk gave a presentation to PM Modi on the development of technologies that are changing the face of the automobile industry. A Tesla Model X was spotted in Mumbai last year.

Having said that, However, this is not actually the first time the Tesla CEO has hinted towards extending the brand in the Indian market. Earlier he had suggested that he would love to be in India, but for some challenging government regulations, that could not happen back then.

However, if Tesla does as Mr Musk plans to, they are in for a good sale in view of the Indian Government's policies on electric vehicles like the Adoption and Manufacture of Hybrid and Electric Vehicles (FAME).

Tesla was established in July 2003, by designers Martin Eberhard and Marc Tarpenning, under the name Tesla Motors. The organization's name was gotten from physicist Nikola Tesla. In early Series A subsidizing, Tesla Motors was joined by Elon Musk, J. B. Straubel and Ian Wright, every one of whom are reflectively permitted to call themselves fellow benefactors of the organization. Musk, who in the past filled in as director and is the flow CEO, said that he imagined Tesla Motors as an innovation organization and free automaker, went for in the long run offering electric autos at costs moderate to the normal buyer. Tesla Motors abbreviated its name to Tesla in February 2017. Year over year U.S. deals from 2017 to 2018, Tesla vehicle deals expanded by 280% from 48,000 to 182,400.

Currently, Tesla in collaboration with Panasonic has about 60% control over the battery manufacturing business of these electric cars. Further, while Tesla is looking forward to setting up car manufacturing plants in Europe and China, it also plans to set up battery manufacturing plants in each continent to bring the cost further down.

At present Tesla has Model S, Model Y, Model 3 and Roadster to offer to the consumers. The new version of the Roadster is expected to hit the market by 2020.