Industrialist Sajjan Jindal is skeptical about how successful American billionaire Elon Musk’s Tesla will be if it enters the Indian market.Companies like Tata Motors and Mahindra & Mahindra have already established their dominance in the electric vehicle market in the country. Moreover, both Indian companies are fully aware of the local demands and demands. Jindal believes that Tesla will not get any ground there.
Companies like Tata Motors and Mahindra & Mahindra have already established their dominance in the electric vehicle market in the country. Moreover, both Indian companies are fully aware of the local demands and demands. Jindal believes that Tesla will not get any ground there.Jindal, without any reservations, said at the Ernst & Young Entrepreneur of the Year Awards on Thursday, “Elon Musk is not here. He is in the USA. We, Indians, are here.”
Jindal, without any reservations, said at the Ernst & Young Entrepreneur of the Year Awards on Thursday, “Elon Musk is not here. He is in the USA. We, Indians, are here.” “Mahindra can’t make masks like what it can make. It can’t do what Tata can do. He might be able to do something in the USA under Trump’s umbrella.”
Jindal also said, “There is no doubt that Musk is very intelligent. He is an independent minded person, he is doing a lot of things from building spacecraft. He has done great work. So, I don’t want anything from him. But, it is not easy to succeed in India.”Jindal’s JSW group, which has tied up with Chinese company SAIC to manufacture cars under the MG Motor brand in India, is also planning to launch its own EV brand. Jindal is confident that his venture will be successful.
Jindal’s JSW group, which has tied up with Chinese company SAIC to manufacture cars under the MG Motor brand in India, is also planning to launch its own EV brand. Jindal is confident that his venture will be successful.In this regard, he said, “I am putting my heart and soul into the car business, and I am 100 percent sure that this business will be successful; nothing can stop me. There is a huge demand for cars in this country, a huge need for high-quality cars.”
In this regard, he said, “I am putting my heart and soul into the car business, and I am 100 percent sure that this business will be successful; nothing can stop me. There is a huge demand for cars in this country, a huge need for high-quality cars.”Musk’s Tesla is all set to enter India with its electric vehicle range after a long wait. The company has already leased a 4,004 sq ft showroom in Mumbai’s Bandra Kurla Complex. The lease will be for five years from February, with Tesla spending $446,000 in the first year.Not only that, Tesla has also started the recruitment process for several key positions in India. These include store managers, service staff and customer engagement workers. However, the company has not yet announced any plans to manufacture cars in India.
Not only that, Tesla has also started the recruitment process for several key positions in India. These include store managers, service staff and customer engagement workers. However, the company has not yet announced any plans to manufacture cars in India.Because, huge tariffs are levied on imports into India from abroad, which is the main obstacle to selling imported cars.
Because, huge tariffs are levied on imports into India from abroad, which is the main obstacle to selling imported cars.One of Tesla’s main challenges in expanding its business in India is the high import duties. Currently, the import of fully assembled electric vehicles is subject to a duty of more than 100 percent, which Musk has repeatedly criticized.
One of Tesla’s main challenges in expanding its business in India is the high import duties. Currently, the import of fully assembled electric vehicles is subject to a duty of more than 100 percent, which Musk has repeatedly criticized.Since Donald Trump took office as the President of the USA, he has been pressuring India to reduce import duties on cars in a proposed trade deal. However, the Centre is hesitant to suddenly reduce it significantly, keeping in mind the interests of domestic companies.
Since Donald Trump took office as the President of the USA, he has been pressuring India to reduce import duties on cars in a proposed trade deal. However, the Centre is hesitant to suddenly reduce it significantly, keeping in mind the interests of domestic companies.While Tesla has set its sights on the Indian market, Tata Motors and Mahindra have started working to strengthen their presence.
While Tesla has set its sights on the Indian market, Tata Motors and Mahindra have started working to strengthen their presence.Tata Motors recently crossed the milestone of selling 2 lakh electric vehicles. The company is offering benefits like exchange bonus, 100 percent loan and free charging facility.
Tata Motors recently crossed the milestone of selling 2 lakh electric vehicles. The company is offering benefits like exchange bonus, 100 percent loan and free charging facility.On the other hand, Mahindra & Mahindra Chairman Anand Mahindra has made it clear that despite the entry of foreign companies like Ford and Hyundai Motors into the Indian market, domestic companies have not only maintained their existence but have also increased their business several times. He said that the same trend will continue in the future.
