The CEO of Tesla Inc, Elon Musk has recently tweeted making it transparent that the company now has plans to expand its market beyond the bases in countries China, Europe and North America. The company has planned for an expansion to regions of all population by the end of the year 2019.
The company further stated that it is on a mission out and that it is on the track to achieve manufacturing of over 7,000 units of its Model 3 in China as production capacity.
The CEO also stated that the company will have a partial presence by 2019 in many other countries, including India. The further expansion of the business in these countries will take place by 2020.
In a statement that came early this year in May, Musk has hinted about the market penetration in India by saying that he would love to be in India. He had further added that there are some challenging regulations in India.
Musk had said that the company’s CFO is from India and that they will penetrate the Indian market as soon as he approves that it is the right time to do so.
Tesla has already made an attempt to come to India in 2017 but the deal could not close due to some misunderstanding between the Indian government and Tesla. Musk had later said that the regulations in India are very challenging
The partial plan of penetrating the Indian market involves bringing and selling the Tesla cars in the country and selling it as CBU. The company will take up from here for further expansion.
The Government of India has also made statements related to switching to electrical vehicles in order to save the natural resources and reduce pollution and the entry of Tesla will definitely work in the right direction for the government as well.
Source: FinancialExpress, EconomicTimes
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