Tesla has launched its Model Y in India, priced at ₹60 lakh, amid high import tariffs. While the entry is strategic, analysts believe the immediate impact on sales and stock may be limited, but long-term potential exists in India's growing EV market.

Tesla Inc. opened its first India showroom, showcasing Model Y cars with a starting price of nearly $70,000, as Elon Musk’s electric-vehicle maker looks to tap new markets and offset slowing sales where it’s already well established.

Tesla is not only losing sales to legacy automakers that have increased their EV offerings, but it faces growing competition from Chinese EV makers. In fact, Tesla is poised to lose its title of the world’s largest EV maker to Chinese automaker BYD, even though BYD is not able to sell in United States.

Tesla faces a pivotal moment as key North American sales executive Troy Jones departs amid growing competition, leadership shakeups, and a challenging EV market.”

Troy Jones, Tesla’s Vice President of Sales, Service, and Delivery for North America, has left the company after 15 years

Tesla has opened its first showroom in India, marking the electric vehicle maker’s long-anticipated debut in the world’s third-biggest automotive market

In a nation where the average salary is around $4,200 a year, the all-electric carmaker is launching a $70,000 vehicle. The question is why.