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Elon Musk's Tesla has reportedly resumed its search for showroom space in New Delhi, signaling a potential rethink of its entry into the Indian market.

Tesla's New Showroom Plans in India

Tesla, which had paused its search in recent months, is now in early talks with India&rsquo;s biggest property developer, DLF, to secure space in the capital region.

Elon Musk's Tesla has resumed its search for showroom space in New Delhi, signaling a potential rethink of its entry into the Indian market after initially halting investment plans earlier this year. According to news agency Reuters, Tesla, which had paused its search in recent months, is now in early talks with India&rsquo;s biggest property developer, DLF, to secure space in the capital region.
The discussions come after Musk's canceled trip to India in April, where he had been expected to announce a $2-3 billion investment. The visit was called off following Tesla's decision to lay off 10% of its staff due to falling sales. Tesla is reportedly looking for a space of 3,000 to 5,000 square feet for a consumer experience center and a much larger space for delivery and service operations.
While Tesla's search is still in the exploratory phase, the company is considering locations such as DLF&rsquo;s Avenue Mall in southern Delhi and the Cyber Hub in Gurugram. Tesla&rsquo;s potential showroom would be around 8,000 square feet in the Avenue Mall, where other foreign retailers like Uniqlo and Marks and Spencer have outlets.
Tesla is also weighing options around the Indian government&rsquo;s tax policies for electric vehicles (EVs), which could affect its decision to import cars at a 100% tax rate or benefit from a lower 15% tax rate if it commits to local investments. The government is eager to attract automakers like Hyundai and Toyota and is making efforts to relax provisions of its policy to stimulate the EV market, which currently represents about 2% of total car sales in India.
Meanwhile, Musk&rsquo;s Starlink is also considering entering India, following a successful lobbying effort to secure spectrum allocation against competition from billionaire Mukesh Ambani's ventures.

Elon Musk&rsquo;s net worth shot up by nearly 26 billion dollars in just one day

Tesla Soars After Trump Victory; Elon Musk's wealth surges by $26 billion

Elon Musk&rsquo;s net worth shot up by nearly 26 billion dollars in just one day

Can you believe it? Elon Musk&rsquo;s net worth shot up by nearly 21 billion dollars in just one day! What sparked this? Well, the Tesla chief, one of Trump&rsquo;s biggest financial backers in this election, got a serious boost as Tesla&rsquo;s stock shot up nearly 15%, closing at a record-breaking 288.53 dollars, its highest this year.Why the sudden surge?
 Turns out, Musk wasn&rsquo;t just rooting for Trump; he put serious money on the line. Through America PAC, Musk helped fund Trump&rsquo;s campaign with tens of millions and even backed 1 million dollars giveaways for registered voters in key swing states. So here&rsquo;s the question: Could Musk&rsquo;s backing of Trump mean Tesla&rsquo;s got a powerful ally in the White House? And how far can this partnership take Tesla&rsquo;s stock?

Tesla implements price reductions in major markets, including China and Germany, as part of its strategy to stay competitive in the rapidly evolving electric vehicle market.

Tesla slashes prices of EVs globally amid increasing competition

Tesla implements price reductions in major markets, including China and Germany, as part of its strategy to stay competitive in the rapidly evolving electric vehicle market.

Tesla has initiated a significant reduction in prices across key markets, including China and Germany, mirroring similar adjustments made in the United States. This move by the electric vehicle giant follows a recent decline in global vehicle deliveries, marking the company's first quarterly drop in nearly four years. Amidst intensifying competition, particularly from Chinese EV manufacturers, Tesla aims to maintain its competitive edge in the market.
In response to the evolving market dynamics, Tesla CEO Elon Musk postponed his highly anticipated visit to India, originally scheduled for April 22. The delay was attributed to Musk's pressing commitments with Tesla, raising speculation about the nature of forthcoming announcements that were expected during his visit.
Tesla's pricing adjustments include a significant reduction in the cost of its Model 3 in China by 14,000 yuan, along with a decrease in the price of the Model 3 rear-wheel-drive variant in Germany to 40,990 euros. Similar price cuts were implemented across other regions, including Europe, the Middle East, and Africa. In the United States, the prices of select models, including the Model Y, Model X, and Model S, were slashed by $2,000, alongside a reduction in the cost of the Full Self-Driving driver assistant software to $8,000.
The company's decision to modify its pricing strategy underscores its attempt to adjust production to align with fluctuating demand patterns. However, Tesla's pace of model updates has been hindered by prevailing high-interest rates, impacting consumer purchasing power, while competitors in China continue to introduce more affordable alternatives.
Despite the delay in Musk's visit, anticipation remains high for Tesla's potential entry into the Indian market. Speculations were fueled by the recent introduction of India's Electric Vehicle policy, which mandates substantial investments from global companies intending to establish EV manufacturing plants within the country. Tesla officials were reportedly scouting potential sites for a manufacturing plant in India, reflecting the company's interest in leveraging local production to navigate regulatory hurdles and capitalize on emerging opportunities.
&nbsp;

Tesla delivered 435,059 vehicles in the last three months, falling short of analysts' expectations by about 20,000 units and below the previous quarter

Tesla slashes prices on popular US car models again; Here's why

<h2>Tesla delivered 435,059 vehicles in the last three months, falling short of analysts' expectations by about 20,000 units and below the previous quarter</h2>

Tesla has slashed prices on its popular car models in the United States in response to missing delivery targets for the third quarter, according to Bloomberg.
The base Model 3 now starts at $38,990, a $1,250 reduction. The long-range Model 3 is also discounted by $1,250, now priced at $45,990.
Tesla has applied price cuts to several models: the performance Model 3 is reduced by $2,250 to $50,990. The long-range and performance versions of the Model Y SUV are now $2,000 cheaper, priced at $48,490 and $52,490, respectively. Additionally, Tesla reintroduced a more affordable version of the Model Y recently. Also read/watch: <a href="https://www.editorji.com/business-news/taylor-swift-s-eras-tour-film-shatters-records-100-million-in-ticket-sales-1696589763259">Taylor Swift's Eras Tour film shatters records: $100 million in ticket sales!</a> &nbsp;
Tesla's stock dipped by 1.6 percent at 5 AM New York time on Friday before regular trading hours. This year, the company's stock value has more than doubled. Factory shutdowns hit Tesla's third-quarter deliveries
Tesla delivered 435,059 vehicles in the last three months, falling short of analysts' expectations by about 20,000 units and below the previous quarter. To meet its annual goal of 1.8 million cars, Tesla needs to deliver over 475,000 additional vehicles.
Lowering prices aims to boost sales but may impact profitability. CEO Elon Musk has downplayed profit concerns, suggesting future revenue could come from software updates. However, his previous predictions about Tesla cars becoming fully autonomous through software updates have not materialized.&nbsp;

At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, insurance and freight (CIF) value less or above USD 40,000

Tesla in India: centre govt not looking at any tailored incentives, states can offer

At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, insurance and freight (CIF) value less or above USD 40,000

The union government is not looking at extending any tailor-made incentives to US-based electric car maker Tesla as of now, though states are free to offer concessions to the company, sources said.
They also said that the company is talking about building a complete supply chain in the long run as they are showing keen interest in India.
The representatives of the firms visited the country last month and held meeting with various parts of the government, including the commerce and industry ministry.
"We have made it very clear that imports are not the preferred thing from our side...The company is talking big in terms of complete supply chains," one of the official sources said.
When asked about extending incentives to the firms, they added that "the government is not looking at any tailored incentives as of now. States are a different matter. States might compete with each other and someone might give them (concessions)".
In 2021, the US-based electric car maker demanded a reduction in import duties on electric vehicles (EVs) in India.
At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, insurance and freight (CIF) value less or above USD 40,000.

Tesla makes some of its models almost 50% less expensive in China than in the US and Europe

Tesla's 50% discount in China creates competitiveness in the key market

Tesla makes some of its models almost 50% less expensive in China than in the US and Europe

In a move to increase competitiveness in the key market China, Tesla is offering hefty discounts to its Chinese buyers.&nbsp;
The period for discounts of up to 10,000 yuan (US$1,451) started in October last year. Elon Musk&rsquo;s electric-vehicle maker escalated the discounts in January, with another discount that left Tesla&rsquo;s locally-made cars up to 14% cheaper than last year, and in some cases almost 50% less expensive than in the US and Europe.
According to Bloomber, the moves left rivals with little option but to follow suit. Among them were local upstarts such as Xpeng Inc. and Nio Inc. as well as leading international brands like Volkswagen AG and Mercedes-Benz Group AG, which offered discounts of up to 70,000 yuan ($10,000).&nbsp;
The cuts have come after a difficult time for China&rsquo;s auto sector. Consumer spending was badly dented by long-running Covid restrictions, while sales have also been impacted by the removal of state subsidies on EV purchases at the end of last year. Supply-chain disruptions have hurt industries globally too.&nbsp;

Tesla has already lowered prices twice in China in recent months and offered rare promotions in North America late last year

Tesla slashes vehicle prices up to 20% in US, Europe

Here's why Tesla slashes vehicle prices up to 20% in US, Europe

Tesla slashes vehicle prices in US, Europe

Tesla has already lowered prices twice in China in recent months and offered rare promotions in North America late last year.&nbsp;

Weeks after Tesla slashes prices for EVs in China, Tesla announced it will cut the price of its best-selling electric vehicle models up to 20 percent in Europe and the United States as well.
According to reports, the move comes after more rivals hit the market resulting in a price war.&nbsp;
This is not the first time the carmaker has cuts its price. Tesla has already lowered prices twice in China in recent months and offered rare promotions in North America late last year.
In 2022, the group delivered a record 1.31 million electric vehicles, a 40 percent year-on-year jump.
But that was still lower than Musk's long-term goal of boosting deliveries by an average of 50 percent a year.
Investors are concerned that sales will slow down due to the economic downturn as well as rising interest rates that make it more expensive to borrow money to buy a car.

China is considered key to Tesla’s global ambitions. In contrast to the United States and Europe

Tesla slashes Model 3, Model Y prices in China for second time in 3 months

Why is Tesla slashing car prices in China for second time in 3 months?

Tesla slashing car prices in China

China is considered key to&nbsp;Tesla&rsquo;s global ambitions. In contrast to the United States and Europe

As competition picks up and the demand outlook darkens, Tesla cut car prices in China for the second time in less than three months.&nbsp;
The US automaker slashed prices for all versions of its Model 3 and Model Y vehicles in China by between 6 per cent to 13.5 per cent.&nbsp; China is considered key to Tesla&rsquo;s global ambitions. In contrast to the United States and Europe, overall auto sales there are still rising because many people do not own cars, or own just one vehicle. The Chinese government has heavily promoted electric vehicle ownership as a solution to urban air pollution, though it has slashed subsidies recently.
Tesla has grown rapidly in China but is facing increasingly stiff competition from companies like BYD, which sells well-regarded cars at lower prices and is the country&rsquo;s No. 1 electric vehicle brand.

Production was suspended at its Shanghai plant for several weeks during the course of last year due to Covid restrictions

Tesla posts disappointing deliveries for 2022; Is it concerning? 

Tesla car sales grow slower than expected in 2022; Is it concerning? 

Production was suspended at its Shanghai plant for several weeks during the course of last year due to Covid restrictions

Tesla said Monday that deliveries in the last three months of the year rose 18 percent from the previous quarter, disappointing Wall Street analysts and adding to pressure on Elon Musk, the company's chief executive, to focus on making cars rather than overhauling Twitter.
Tesla said it delivered 405,000 electric cars from October through December. Wall Street analysts had predicted that Tesla would sell around 420,000 vehicles, up from 343,000 vehicles in the third quarter.
The company sold a total of 1.3 million cars in 2022, a 40 percent increase from the year before. That was short of the 50 percent annual growth target Tesla had set for itself.
Industry watchers are concerned that demand for Tesla's relatively pricey electric vehicles could bottom out amid global economic uncertainty and stiffer competition in the sector.
They are also concerned about Musk's current focus on operations at social media site Twitter, which he acquired last year.

Between January 2022-November 2022, Tesla has sold 655,069 China-made vehicles, up 63% year over year

Tesla China sets sales record in November; here's why

Between January 2022-November 2022, Tesla has sold 655,069 China-made vehicles, up 63% year over year

Tesla's Gigafactory Shanghai hit an all-time record number of deliveries in November, shipping 100,291 electric vehicles to customers in China and overseas markets. However, Tesla stock tumbled on Monday as multiple reports said Tesla is also planning to cut its EV production in China, as demand seems to be faltering.&nbsp;
Breaking the 100,000 monthly delivery barrier for the first time in China also meant that Tesla posted a 40-percent increase from October 2022 and 90 per cent increase from November 2021. The spectacular growth comes after the EV maker ramped up output at the Shanghai plant, cut prices for its best-selling models, the Model Y and Model 3, and offered incentives to Chinese buyers.&nbsp;
That is the highest monthly sales figure since the Giga Shanghai vehicle assembly plant opened in late 2020.&nbsp;
According to Tao Lin, vice president of Tesla China, the localization rate of the industrial chain of Giga Shanghai has now exceeded 95 percent, helping China's new energy vehicle (NEV) industry to develop a world-leading integrated industrial structure and robust consumption potential.
According to reports, sales is up 90 percent from the 52,859 vehicles sold in November of last year and up 40 percent from the 71,704 vehicles sold in October.&nbsp;
&nbsp;

Another incident of Tesla engulfed in flames is going viral on social media.&nbsp;&nbsp;
But this time, the firefighting team in California was compelled to try a different method. Using a tractor, they dug up a pit, put the car in it and filled it with water.
According to reports, 4,500 gallons of water to put out a fire in a Tesla Model S spontaneously burst into flames.&nbsp;
Metro Fire said that even with water being directly sprayed onto the batteries, they would still reignite the fire.
Eventually, a small pit was dug and filled with water and the Tesla was placed inside of it, fully submerging the batteries and stopping the fire, according to Metro Fire.
The electric car had sustained major damage in a crash three weeks before and was scheduled to be dismantled when it caught fire.&nbsp;
No injuries were reported and the fire was completely extinguished.&nbsp;

Tesla catches fire; 4,500 gallons of water used to extinguish

The car had been in an accident and was about to be dismantled

Another incident of Tesla engulfed in flames is going viral on social media.&nbsp;&nbsp;
But this time, the firefighting team in California was compelled to try a different method. Using a tractor, they dug up a pit, put the car in it and filled it with water.
According to reports, 4,500 gallons of water to put out a fire in a Tesla Model S spontaneously burst into flames.&nbsp;
Metro Fire said that even with water being directly sprayed onto the batteries, they would still reignite the fire.
Eventually, a small pit was dug and filled with water and the Tesla was placed inside of it, fully submerging the batteries and stopping the fire, according to Metro Fire.
The electric car had sustained major damage in a crash three weeks before and was scheduled to be dismantled when it caught fire.&nbsp;
No injuries were reported and the fire was completely extinguished.&nbsp;

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