Tesla Inc. (NASDAQ: TSLA) unveiled pricing for its Model Y in India on Tuesday via its official website, ahead of its planned showroom launches and sales rollout later this month.
The rear-wheel drive Model Y is priced at ₹59.89 lakh ($69,700) before taxes, while the long-range rear-wheel drive variant comes in at ₹67.89 lakh, according to the site. Currently, registrations are only open in New Delhi and Mumbai.
These prices are significantly higher than Bloomberg’s earlier report of a $56,000 estimate, and far above the $44,490 base price for the Model Y in the U.S.. All units sold in India will be imported from Tesla’s China factory.
Tesla is expected to open its first Indian showroom in Mumbai this week, with a second outlet slated to launch in New Delhi by the end of July.
However, the EV giant has no immediate plans to establish a manufacturing facility in India, following stalled negotiations with the Indian government earlier this year.
Tesla’s Indian entry comes as it looks to tap new markets amid intensifying competition and sluggish sales in core regions like the U.S. and China. The company is also experiencing sales challenges in Europe and parts of Asia.
Still, Tesla faces strong competition in India, particularly from domestic automakers like Tata Motors and Mahindra & Mahindra, whose EVs are far more affordable and cater to the country’s price-sensitive consumer base.
In the premium EV segment, Tesla will also contend with Chinese rival BYD, which entered India earlier and has steadily expanded its footprint in the country. Based on pricing, Tesla appears to be positioning itself at the higher end of the Indian EV market.
