financetom
Business
financetom
/
Business
/
Tesla picks showroom sites in New Delhi, Mumbai to start India sales, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Tesla picks showroom sites in New Delhi, Mumbai to start India sales, sources say
Feb 18, 2025 9:08 PM

By Aditya Kalra

NEW DELHI, Feb 18 (Reuters) - Tesla has

selected locations for two showrooms in the Indian cities of New

Delhi and Mumbai, moving closer to its long-delayed plans to

sell its electric cars in the country, sources familiar with the

matter said.

The U.S. carmaker has been hunting for showroom space in

India since late last year in order to start sales in the

world's third biggest auto market, after putting market entry

plans on hold in 2022.

Indian Prime Minister Narendra Modi met Tesla CEO Elon Musk

in the United States last week and discussed issues including

space, mobility and technology.

Tesla has selected space to lease in the Aerocity area near

New Delhi's international airport for a showroom, said two

people familiar with the discussions, who declined to be named

as the matter is private.

The Aerocity area boasts hotels, retail outlets and offices

of global corporations.

In Mumbai, the carmaker has chosen space in the business and

retail hub of Bandra Kurla Complex near the city's airport, the

first person said. Both the Delhi and Mumbai showrooms will be

around 5,000 square feet (464.52 square metres) in size, the

source said.

Opening dates for the outlets have not yet been decided, but

Tesla plans "to sell imported EVs in India ... these deals are

for showrooms, not service centres," the first person said,

adding that Tesla will operate the outlets.

Tesla did not immediately respond to a request for comment.

The company also posted job ads this week for 13 mid-level

roles in India, including some store and customer relationship

managers.

Musk has long criticised India for having high import

tariffs of around 100% on EVs. Tesla has repeatedly lobbied to

relax them but has faced opposition from local automakers who

think Tesla's entry could hit their EV plans.

U.S. President Donald Trump last week called out India's

high duty on cars, but agreed with Modi to work towards an early

trade deal and resolve their standoff over tariffs.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Goldman Sachs to Reduce Buybacks in Q3 Due to Increased Stress Capital Buffer Requirement
Goldman Sachs to Reduce Buybacks in Q3 Due to Increased Stress Capital Buffer Requirement
Jul 16, 2024
06:46 AM EDT, 07/16/2024 (MT Newswires) -- Goldman Sachs ( GS ) plans to moderate its stock buybacks in Q3 compared with the previous quarter due to an increased stress capital buffer requirement, CFO Denis Coleman said Monday during a conference call. We will dynamically deploy capital to support our client franchise while targeting a prudent buffer above our new...
Masimo Files Complaint Against Politan Capital Over Alleged Misstatements in Proxy Material
Masimo Files Complaint Against Politan Capital Over Alleged Misstatements in Proxy Material
Jul 16, 2024
06:51 AM EDT, 07/16/2024 (MT Newswires) -- Masimo ( MASI ) said Tuesday it has filed a complaint in California federal court seeking to require Politan Capital to correct alleged misstatements and omissions in its proxy materials. The company also alleged Politan founder Quentin Koffey of assisting plaintiff's counsel in litigation against Masimo ( MASI ), among other things. In...
KBR to Acquire LinQuest for $737 Million in Cash
KBR to Acquire LinQuest for $737 Million in Cash
Jul 16, 2024
06:51 AM EDT, 07/16/2024 (MT Newswires) -- KBR (KBR) said Tuesday that it has agreed to acquire LinQuest, an engineering, data analytics and digital integration company, for $737 million in an all-cash transaction. The deal is expected to be accretive to adjusted earnings per share and has been unanimously approved by the KBR board of directors. The company said it...
BofA's profit falls on shrinking interest income
BofA's profit falls on shrinking interest income
Jul 16, 2024
(Reuters) -Bank of America's ( BAC ) profit fell in the second quarter as its income from interest on loans shrank and it set aside more money to cover potential credit losses. A better-than-expected forecast for fourth-quarter net interest income (NII), however, sent shares up 1% in premarket trade. The strength and earnings power of our leading consumer banking business...
Copyright 2023-2026 - www.financetom.com All Rights Reserved