Elon Musk-led Tesla to launch its cheapest EV in Germany, followed by India, to cost 25,000 Euros

Elon Musk’s EV company Tesla is set to introduce its most affordable model, priced at 25,000 Euros, as a two-door car in Germany, as per a report by Moneycontrol.

Sources indicate that after the German launch, the same electric vehicle will be subsequently introduced in India, although Tesla has not officially confirmed its entry into the Indian market.

The American multinational automotive and clean energy company is expected to begin importing some of its models into India starting next year.

While specific details about the models intended for the Indian market remain limited, insider information suggests that the Model Y Crossover will be the first Tesla model made available in the country.

The Model Y, based on the Model 3 sedan platform, is a battery-electric mid-size crossover SUV manufactured by Tesla Inc. since 2020. Positioned as a smaller and more affordable alternative to the mid-sized Tesla Model X, the Model Y also provides an option for a seven-passenger seating capacity with its available third-row seats.

Despite the lack of an official announcement regarding its India plans, Tesla’s move aligns with statements made by Trade Minister Piyush Goyal. Goyal previously mentioned that Tesla is looking to double the number of components it imports from India.

Visiting Tesla’s manufacturing facility in Fremont, California, Goyal expressed pride in the increasing significance of Indian auto component suppliers in Tesla’s electric vehicle supply chain.

In September, Goyal revealed that Tesla aimed to source components valued between $1.7 billion and $1.9 billion from India in the current year, building upon the $1 billion worth of components imported the previous year.

Recent reports also suggest that Tesla will start importing its EVs in India, once the union government reduces the import duties on CBU EVs in the country.

Tesla is also set to start manufacturing its EVs in India in a couple of years, after it builds its production plant with an initial investment of $2 billion.

(With inputs from agencies)