Tesla to enter Indian market by 2019, says Elon Musk

An illustration of SpaceX's Big Falcon Rocket or BFR launching through Earth's clouds and toward space.       SpaceX

An illustration of SpaceX's Big Falcon Rocket or BFR launching through Earth's clouds and toward space. SpaceX

"Of course, anything boring is awful, especially companies, so we chose to send something unusual, something that made us feel".

The subpoena can compel Tesla to turn over materials the agency wants to review.

In a conversation Elon Musk said that the auto is his own desire, and successful sale it absolutely not interested. However, this does not take the fact that the regulators are investigating whether Tesla's were deliberately misleading.

India lost a good deal a year ago when Tesla agreed to build its first factory outside the U.S. in Shanghai, China, despite the fact that the company had been exploring the possibilities of setting up a plant in India for months. As a vehicle company, if it was to import and sell its cars here, it would have to charge very high prices - a Model S would cost upwards of Rs 1 crore in India.

The filing adds that Tesla is cooperating with a Justice Department request for information about Model 3 forecasts.

Tesla finally met that target in June of this year.

The extra publicity for his other company, Tesla, didn't hurt either.

In the absence of a reliable supply chain and with no local factory to assemble the cars, Model 3 hasn't yet been launched in India. "This is critical to make pricing as affordable as possible", Musk tweeted. Musk and Tesla agreed to pay a combined $40 million without acknowledging or denying wrongdoing.

Last week, investors were cheered by the company's third-quarter net profit, wider margins, and positive cash flow, which sent shares climbing. It did not say at the time that it had gained another $137 million in regulatory credits, which contributed to almost half of the profit.

The company also said it plans to build about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 there to reduce the impact of tariffs on vehicles imported into China. When it first began manufacturing the Model 3 in the summer of 2017, Musk tweeted that it could be making 20,000 cars a month in December.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.