EV giant Tesla's India entry may have more symbolic than strategic value

Many see Tesla's India entry as an attempt to address the capacity glut at its global plants, from where excess inventory might be brought to India

Tesla, the poster boy of full self-driving cars, has finally cruised into India. Globally, whenever Tesla enters a market, it increases the penetration of battery electric vehicles (BEVs). In India, however, that might not be the case. 

Given its price — ₹60 lakh for the Model Y rear-wheel drive (RWD) and ₹68 lakh for the Model Y long range — Tesla sits firmly in the luxury EV segment in India and is, therefore, unlikely to impact existing mass-market EV players. 

Analysts believe Tesla will first focus on building the Model Y brand before expanding — both in terms of volume