Elon Musk gets an invitation from Ashok Leyland to enter into the Indian market.
With Elon Musk’s dream to enter into the Indian market getting stranded in rough tides, he finally found a way to enter into the Indian market. Tesla Ashok Leyland partnership is a helping hand for the electric car giant to enter the Indian shores.
Officials at the company are open to the CEO of Tesla for a partnership and to finally let Indians experience the benchmark of electric cars. They have also mentioned that multiple agencies are looking forward to getting Tesla into the market and that Ashok Leyland would be lucky to be a part of it.
Ashok Leyland wants to experiment with the new technology that Elon Musk’s company would get to our shores. As long as the company is generating more income and helping its customers generate more money, it is open to the new technology. Ashok Leyland reported a revenue of Rs. 6325 crores in Q3 (FY 2018-19). Year-to-Date (YTD) revenues reached Rs. 20,209 crores, up by 15 percent over the corresponding period last year.
Ashok Leyland is India’s largest bus manufacturer and the fourth largest in the world. The company reported a 10 percent rise in the domestic vehicles sales at 13,141 units in April 2019. The commercial vehicle company had sold 11,951 vehicles in the domestic market during the same month last year.
With a few hiccups to Musk’s entry into the Indian market, he finally has a way to launch electric cars in India. The company was expected earlier to enter India with the Model 3. The electric car manufacturer has also built a factory in Shanghai earlier this year. This was the first ever factory outside US built by the company and is expected to produce 5,00,000 electric vehicles per year and double the production capacity.
Tesla Ashok Leyland
– Government policies had previously prevented the entry for Tesla to come to India
– Musk had previously mentioned that he would love to be in India in 2019 or next year
– Apart from Ashok Leyland, many other agencies would form a consortium to get Tesla to India
Source – ETAuto.com