It appears that Tesla is looking to enter our market. Elon Musk, CEO of Tesla, has even revealed that there might be an affordable car developed for markets like that of ours
Electric Vehicles have been in the limelight for a while now. Tesla is undoubtedly one of the leading EV carmakers at the moment. Even though it doesn't have a long and rich history like other automotive giants, Tesla has made its name for the innovative technology and progressive approach toward developing electric vehicles. However, Tesla cars are usually marketed as premium and cutting-edge vehicles whose prices are not at all affordable. However, as per a statement from Elon Musk during a meeting with investors, the company is considering launching an affordable compact model in the future.
Tesla might launch a new affordable electric vehicle for the South Asian markets like that of ours
Musk revealed, “It is important to make the car affordable. Like the thing that bugs me the most about where we are right now is that our cars are not affordable enough. We need to fix that.” At the moment, Tesla is offering three models. The most affordable car in Tesla’s line-up is the Model 3. The price of this car starts at $37,990 which is approximately Rs 28.5 lakh. In comparison to other models in Tesla's range, this price is quite a good deal. However, for markets like ours, above-Rs-25-lakh is a big investment for a small family car.
A couple of days ago, the chairman of Tesla expressed the intention to expand its reach to Indian customers. However, considering the current line-up, it is unlikely that the car brand can win over Indian customers’ sentiment. It has been suggested by some reports that Tesla will develop a new affordable car which will be manufactured entirely in China while the technology and design will be developed in Germany. Currently, Tesla is building a gigafactory in Germany whose production capacity is at par with its Shanghai-based factory.
The new affordable EV might be named Model 2
At this point, there is no information regarding when the new affordable model will be unveiled. According to some reports, the new affordable Tesla might be named “Model 2.” No images or concept sketches of this model have been released so far. Considering what Tesla has provided us to this point, there is no doubt that the new car will be a looker despite its attractive pricing.
If Tesla enters our market, one of the major challenges that Tesla will face is the lack of EV infrastructure in India. It is also a common problem for other car manufacturers in the country. Due to the scarcity of charging stations, car buyers might not be ready for owning electric cars.