Texas: Elon Musk-led Tesla has restarted its hunt for showroom space in New Delhi, signalling a renewed interest in entering the Indian market after halting investment plans earlier this year, according to sources familiar with the matter.
In April, Musk had planned to visit India to meet Prime Minister Narendra Modi and potentially announce a 2-3 billion dollar investment. However, Tesla cancelled the visit after it decided to reduce its workforce by 10 per cent due to declining sales.
Tesla In Discussion With Indian Real Estate Giant DLF To Secure A Capital Region
Sources revealed that Tesla is now in preliminary discussions with Indian real estate giant DLF to secure retail space in the capital region. Reportedly, the company seeks 3,000 to 5,000 square feet for a customer experience centre and a larger area for vehicle delivery and service operations.
Potential sites under consideration include DLF’s Avenue Mall in southern Delhi and the Cyber Hub office and retail complex in Gurugram. Tesla is particularly eyeing an 8,000-square-foot showroom space in the Avenue Mall, which already hosts global brands like Japan’s Uniqlo, Spain’s Mango, and the UK’s Marks & Spencer.
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A source has revealed that the discussions remain exploratory, and final decisions are yet to be made. It is unclear whether Tesla will import cars at the current 100 per cent tax rate or commit to manufacturing in India under the government’s new policy that offers reduced import duties of 15 per cent for certain EVs.
India’s government, keen to attract automakers like Hyundai and Toyota, has been easing policy requirements. While India’s electric vehicle (EV) market currently accounts for just 2 per cent of the country’s total annual car sales of 4 million, the government aims to boost EV sales to 30 per cent by 2030
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