Tesla picks showroom sites in New Delhi, Mumbai to start India sales: Reuters

Tesla picks showroom sites in New Delhi, Mumbai to start India sales: Reuters


Tesla signage is seen at a Tesla showroom on July 05, 2024 in New York City. 

Michael M. Santiago | Getty Images

Tesla has selected locations for two showrooms in the Indian cities of New Delhi and Mumbai, moving closer to its long-delayed plans to sell its electric cars in the country, Reuters sources familiar with the matter said.

The U.S. carmaker has been hunting for showroom space in India since late last year in order to start sales in the world’s third biggest auto market, after putting market entry plans on hold in 2022.

Indian Prime Minister Narendra Modi met Tesla CEO Elon Musk in the United States last week and discussed issues including space, mobility and technology.

Tesla has selected space to lease in the Aerocity area near New Delhi’s international airport for a showroom, said two people familiar with the discussions, who declined to be named as the matter is private.

The Aerocity area boasts hotels, retail outlets and offices of global corporations.

In Mumbai, the carmaker has chosen space in the business and retail hub of Bandra Kurla Complex near the city’s airport, the first person said. Both the Delhi and Mumbai showrooms will be around 5,000 square feet (464.52 square metres) in size, the source said.

Opening dates for the outlets have not yet been decided, but Tesla plans “to sell imported EVs in India … these deals are for showrooms, not service centres,” the first person said, adding that Tesla will operate the outlets.

Tesla did not immediately respond to a request for comment.

The company also posted job ads this week for 13 mid-level roles in India, including some store and customer relationship managers.

Musk has long criticised India for having high import tariffs of around 100% on EVs. Tesla has repeatedly lobbied to relax them but has faced opposition from local automakers who think Tesla’s entry could hit their EV plans.

U.S. President Donald Trump last week called out India’s high duty on cars, but agreed with Modi to work towards an early trade deal and resolve their standoff over tariffs.



Source

Alphabet earnings are out after market close. Here’s what Wall Street is watching
World

Alphabet earnings are out after market close. Here’s what Wall Street is watching

Google parent Alphabet has become a key winner in the artificial intelligence race. Its upcoming quarterly results could determine how far the stock can go from here. Shares of Alphabet have gained more than 8% year to date and 64% over the past 12 months, making a huge comeback from its initial slump as the […]

Read More
Oil prices jump after Trump says Iran supreme leader ‘should be very worried’
World

Oil prices jump after Trump says Iran supreme leader ‘should be very worried’

Tankers docked at the Phillips 66 Freeport Terminal in Freeport, Texas, US, on Friday, Jan. 16, 2026. Mark Felix | Bloomberg | Getty Images Oil prices rose Wednesday after President Donald Trump said Iran’s Supreme Leader Ayatollah Ali Khamenei “should be very worried.” U.S. crude oil rose $1.82, or 2.88%, to $65.08 a barrel by […]

Read More
Hedge funds made  billion shorting software stocks so far in 2026 — And they are increasing the bet
World

Hedge funds made $24 billion shorting software stocks so far in 2026 — And they are increasing the bet

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Jan. 28, 2026. Brendan Mcdermid | Reuters Hedge funds are increasing their short bets against software stocks, contributing to the brutal sell-off in the space so far this year, according to sources at two major funds on Wall […]

Read More