Tesla is expected to enter the Indian market within the next 2-3 months, with the certification and homologation process already underway. However, the company has no immediate plans to manufacture in India. Tesla CEO Elon Musk is awaiting clarity on India’s import duty cuts before finalizing the launch.

According to CNBC-TV18, Tesla aims to enter India with lower import duties rather than setting up local production immediately. The company’s stock has faced a sharp decline, dropping over 30% in the past month and 35% since the beginning of the year. The decline is due to weak sales and investor concerns over Musk’s potential involvement in the Trump administration, which could divert his focus from Tesla.

In a recent Fox Business interview, Musk admitted to managing his businesses with “great difficulty.” Market analysts predict short-term volatility in Tesla shares following the recent drop. Despite the stock challenges, Tesla’s entry into India is expected to boost the country’s EV market significantly.

Source: Mint