Tesla is beginning to or already entered many of the largest car markets in the world. However, there is still one major and growing market remaining: India. In this video, I cover the leaks that are pointing to Tesla's upcoming expansion in India and why India offers an enormous opportunity for Tesla in the future.
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India, a country known for its large population of employees working in technology, has been undergoing a massive shift in car sales, tech based vehicles, while traditional luxury automakers attempts to increase the value of their vehicles through speed, comfort and design. These luxury features aren't as appealing to indians raut a gurgaon portfolio manager told the economic times that it feels like the top-end car automakers that are at a price point where mercedes-benz, bmw and audi are don't have a product. Tesla's vehicles are the front-runner in the ongoing transition not just to electric vehicles but fully connected software-based technology, while elon musk has had troubles with india's government when it comes to import regulations, leaks are showing that he may be settling on an agreement in the near future. In this video, i'm going to cover the leaks, pointing towards tesla's upcoming expansion to india and how this new market opens a ginormous opportunity for tesla if you're new to the channel, please consider subscribing for more content like this and let's get right into it.
Back in 2016, when tesla was preparing to launch the model, 3 elon musk opened the model 3 for pre-orders in india. Immediately many pre-orders began to flood in clearly demonstrating that there was plenty of demand. One year later, when elon musk was asked about tesla's plans to launch in india, musk stated hoping for summer this year, two years later, elon told a twitter user that he would love to be in india by 2019 and, if not in 2019, then certainly 2020. The delay of tesla india occurred primarily because of import fees.
Elon stated, i'm told import duties are extremely high up to 100, even for electric cars. This would make our cars unaffordable. Nonetheless, elon musk still had some hope to expand in india, as he stated that for other countries we pay in part for the local factory by selling cars. There ahead of time also gives a sense of demand.
Current rules in india prevent that, but recent changes in sales tax give hope for future changes. Now, logically, it would make sense for india's government to bend the rules for tesla having tesla in india means more jobs, a better reputation due to decarbonization and more money flowing into the economy. Without a doubt, it's in the best interest for india to reach an agreement with tesla, which is exactly what may be happening in the same month that elon musk complained about the import fees for tesla vehicles. India's government began to move forward with the plan to build large lithium-ion battery factories.
Mint, a financial daily newspaper in india reported that tesla and china's contemporary amp rex technology ltd are among the companies that have shown an initial interest in the indian government's plan to build large factories to make lithium-ion batteries at an investment of about 50 000 core in U.S currency 50, 000 core is valued at 7 billion us dollars, which is not a small amount. An anonymous indian government official stated that this is a multi-billion dollar opportunity. The expenditure finance committee meeting has been done. It will now come up in the cabinet. Clearly, india is more than willing to make a deal with tesla, as the government officials recognized the massive opportunity ahead of them. Another anonymous official commented about the move to clean energy, stating that large batteries should be brought to the clean energy play to help use in-firm power such as wind and solar. We first need it on a large scale to cater the internal demand. All the top global manufacturers, including tesla, have evinced interest.
We will get more clarity once the tender documents are brought. This was back in august of 2019 and india's government wasn't just talking about a tesla factory. They were actually moving forward with the documents in the past month. Elon musk has dropped, many hints at tesla india, but many go unnoticed by the media.
For example, on july 5th 2020 a twitter user named spaceguy asked elon. Will you expand tesla mega factories in asia outside of china? Elon responded yeah, but we first need to finish: giga berlin and a second u.s giga to serve eastern half of north america. Just four days later, arvind gupta asked dear elon musk. When is the tesla 3 expected in india booked over 4 years ago, elon replied by stating sorry should hopefully be soon.
These two tweets seem to coincide with each other, as in one tweet, elon stated that tesla is looking to expand in asia outside of china and in another tweet elon hinted that tesla would begin selling the model 3 in india with just two tweets. I would imagine that you're not convinced, yet this is where the recent q2 conference call comes into play. Keep in mind that this is only two weeks after elon hinted at giga, india, on twitter and listened closely and and yeah just think about the next. The next 12 to 18 months, we'll have three new factories in place.
Uh things are looking great with the gig of berlin and what we'll have cyber truck semi roadster uh, full self driving, there's so much to be excited about uh. It's really hard to kind of fit into this uh call but uh the sheer amount of hardcore engineering, especially on the uh. You know autonomy and the manufacturing engineering front is mind blowing in hindsight the clip i just showed. You may not seem very important, but listen to the sentence again closely and and yeah just think about the next.
The next 12 to 18 months, we'll have three new factories in place and yeah just think about the next 12 to 18 months. We'll have three new factories in place. Three new factories, we know giga berlin, is under construction and giga. Texas is on the way, but what's the third factory giga india, india's rapidly growing economy gives tesla an enormous opportunity in the future, as by 2025, india's automobile market is estimated to be the third largest market in the world. Now elon musk has been hinting at an upcoming compact car for quite a while now, given the fact that india is a crowded area and is also one of the largest markets for low-cost vehicles, the opportunity for tesla to capture the car market in india is far Larger than i can even imagine, with interest from catl to expand to india, tesla will be able to easily bring down the cost of its compact car to twenty thousand dollars. Overall tesla's opportunity in india is massive and the best part about it is that nobody knows yet. Let me know what you think about tesla's secret plan to dominate india in the comment section below. If you enjoyed this video, please hit the like button and subscribe and i'll see you in the next one.
Mainly everyone thinks about Tesla car's but the reality is for now Tesla has better opportunities in energy sector in India
Indian Government is really eager to have Tesla in india because Tesla has everything from Solar panels to electric cars it's like a full package 👍
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Go go Tesla India 🇮🇳….Go go Elon Musk a great Entrepreneur ….. hope he does joint venture with Tata
I love Tesla cars from india but our govt imposed 100% import tax rates on imported cars …🤔 If Tesla starts to assemble or manufacturer cars inside india then only price will drop because of local manufacturing cost
Tesla doesn't launch in india because most of the indian corporate sector depends on petrol and other resources it would not be good political decision to launch tesla in india..
This the right move for Tesla and india. Indians are a greater investment as is stable politically and a great work force. The cheap baby Tesla's.. will be made in india.
Tesla won't crack the Indian market till they have an affordable compact car. I suspect they would have to go even further downmarket than the budget models sold in other countries. They will be up against cars like the Suzuki Alto-based Maruti and the Tata Nano, which are the kind of subcompact car most popular in India. These are very small cars with engines smaller than 1000cc and weighing less than 1 ton.
On the surface this is a great potential for all parties!
But Indian companies like Tata and Mahindra will probably stop the competition the old fashioned way by bribing and nepotism, as the politicians are prone to accept and expect big kickbacks.
Nationalism will easily trump the environmental concerns and scientific modernization easily!
The bureaucracy remains is the most toxic and sustained colonial legacy in the subcontinent!
So it will be a miracle if this does happen! Win win!
As a long term shareholder I am absolutely for it! Best regards.
In india the competition is much Greater than usa for sure as we have atleast 2 manufacturing company ie Tata and mahindra going and pushing electric vehicles and also at a very great price.
let's be honest, India is the worst place for any business
Can indians afford a Tesla? can tesla deal with Indian "Businessmen and offcials"???
I don't hate indians, but just look to aviation industry!
Aren’t you the same guy as the HyperChange guy? You sound the same to me. Maybe I need my ears checked.
India is still rather poor. India does not have good infrastructure. Putting a factory there may be premature. Give them another 5 years at least before considering the move.
India wages huge taxes on petrol and diesel and one sought of source for economy in India. Transition to EV is difficult but recently Delhi govt announced subsidies for ev. I think efficient mileage is one factor indians will look to if it is with in budget. Building ev charging structure might also face difficulties..
Maybe he can setup a software development center in India first, given the shear amount of IT talent present here.
And then maybe an year later anounce a giga india.
If the Teslas are manufacured in China and imported to India then its the worst time to do that 🙂 .. India is killing everything thats made in China .. for sure govt or people wont like to buy a Tesla made in China .. designed where ever doesnt matter
Remember the third factory is Shanghai.. it is new, not an old factory .. India is too overcrowded and obstructionist to allow a dominator to come from the West. They learned their lesson from experience. I know this video was speculative, and humorous, but really, I guess if tesla comes it would be just to make batteries with CATL? Then it would be stretching out it’s business activities and losing focus. I expect it will instead one day import the new cheaper Chinese designed Tesla that is much lower cost, because that is the one they want for the so-called developing world. But it will still be expensive for Indian people. And given that China and India are almost at war, it would not sell.
India is big but also a value driven market. Tesla vehicles currently are expensive compared to ICE vehicles. India is large and diverse .Yes we will sell vehicles at any price point but I doubt they will be commercially viable considering the state of our roads and the way we drive. We might have the population but we don’t have the infrastructure compared to China . Now if they partner with a local player like Maruti who has the setup they might succeed
THE 3rd is CHINA… its not done they have 1 line up..
until it sells 3 and y at full capacity its not done…
india has like 11 cars … and ALL THE PEOPLE…. so… no i dont think tesla will go any time soon. They would make a 2nd China factory and ship them… stop being silly
I don't think the 3 new factories meant a new one we don't know about. I think Elon was was talking about the massive expansion at Shanghai as 1.
Things to do in India for Tesla.
1. Make basic EV at lower price point
2. Make autopilot and other bells and whistles optional
3. Give V2G…many areas would really benefit. Even pay for the whole car in the long run.
I don't think Elon meant "three new gigafactories" the way you interpreted it. I think he was counting Shanghai, Berlin and Austin as the three new gigafactories. Why Shanghai? Because as we speak Tesla is doubling the size of Giga Shanghai to build the Model Y. Besides, Giga Shanghai's Model 3 line is still pretty new.
The other thing is that it's not that easy to build a brand new cheaper model at the $20k price point. They need a battery breakthrough first, and even then the price target is more likely to be more like $25k (US median new car price).
The decision is really waiting on India's gov't. They have to change their laws to be less protectionistic before anything happens.
None of the comments made by Elon hints at India… Looks like your video is just get views & nothing concrete. You are building castles in thin air. I'll be the happiest guy of Tesla can make it to India but at the same time I don't want to count my eggs before they are hatched…
China's impending conflict with India might make this more of a fool's errand than anything else.