Siddharth Jain Receives India’s First Imported Tesla Model Y

In a dazzling moment for India’s electric vehicle (EV) scene, Siddharth Jain, Executive Director of the INOX Group, proudly took delivery of what he claims is "India Inc's first Tesla." The sleek Tesla Model Y, finished in a striking stealth grey, was handed over on Monday, marking a milestone for Tesla’s entry into the Indian market. Jain shared his excitement on X, posting a photo of the car and dedicating the moment to Tesla’s visionary CEO, Elon Musk. "This one's for you, Elon Musk," he wrote, adding, "I am beyond thrilled to receive India Inc's 1st Tesla! I have been waiting for this precious moment ever since I visited the Tesla Fremont factory in 2017! Dreams do come true!"

The Tesla Model Y, imported from the company’s Shanghai Gigafactory, comes with a hefty price tag in India—starting at Rs 61.07 lakh in Mumbai and Rs 66.76 lakh in Gurugram. This is nearly double the cost of the same model in the United States, a result of India’s steep 110 per cent import duty on fully built vehicles priced above $40,000 (Rs 33.4 lakh). Despite the premium pricing, Tesla is seeing strong demand. According to Bloomberg, the company has already secured around 600 orders since July and plans to ship between 350 and 500 vehicles to India by the end of the year.

Earlier this month, Tesla celebrated its Indian debut with a ceremonial handover of a Model Y to Maharashtra State Transport Minister Pratap Sarnaik at its Mumbai Experience Centre. The event underscored Tesla’s strategic push into India, though the company is focusing on a niche segment of the market. Electric vehicles currently account for just 4 per cent of India’s auto sales, but Tesla’s arrival is generating buzz among affluent buyers and EV enthusiasts alike.

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For now, Tesla is relying on imports to serve the Indian market, with no immediate plans for local manufacturing, as confirmed by HD Kumaraswamy, India’s Minister of Heavy Industry. This strategy aligns with Tesla’s cautious approach to scaling operations in a market known for its complex regulatory and tax environment. However, the excitement surrounding Jain’s purchase signals growing interest in Tesla’s cutting-edge technology and sleek designs among India’s elite.

Jain’s acquisition is more than just a personal milestone; it’s a bold statement about the future of EVs in India. As Tesla continues to roll out its vehicles, all eyes are on whether this high-profile launch will spark broader adoption of electric vehicles in a country where traditional fuel-powered cars still dominate. With its premium pricing and limited initial volumes, Tesla is clearly targeting India’s luxury market, but the ripple effect of its entry could reshape the automotive landscape in the years to come.

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