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autoDecember 28, 2020

Tesla to launch Model 3 in India in June, bookings to begin next month

Years after Tesla first decided to launch the electric vehicle brand in India, the company might finally bring its first car to India as early as next year. A new report even suggests that the bookings will commence as early as next month.
A report by ET Auto claims that the EV manufacturer will be launching Model 3 in India and the bookings for the same will begin from next month. The report claims that the company will start deliveries from the end of the first quarter of 2021-22.
The first car to be available in India will be the Model 3 Sedan, as already announced by Musk. It is expected that the car would be sold in the Rs 55-60 lakh price range and bookings will resume in India from next month.
Tesla was on a fly in 2020 that tested the resilience of most companies during a pandemic year. Tesla’s rise to become the world’s most valuable automaker and rank among the top 10 biggest US companies is a surprising accomplishment considering that the company lost $1.1 billion in the first half of 2019. The increase is so stunning that even CEO Elon Musk has said the shares are overpriced.
Global sales hit a record of almost 140,000 in the third quarter, debt has been reduced with proceeds from stock offerings, and Musk’s company is building two huge factories to make new vehicles and satisfy demand. Intensely loyal followers have invested billions and Musk has become the world’s third-richest man, according to Forbes.