While sparking speculation, Tesla Inc.’s India office appears to be refunding early bookers of its Model 3.
In the meantime there are increasing speculations that the American electric vehicle maker is nearing a rollout in the world’s third-largest automobile market.
Tesla Refunding Early India Bookings
This strategic move appears to have heightened rumours that the electric vehicle behemoth is preparing for a big market entry into the most populous country in the world, rather than indicating a retreat.
The company has written emails to customers who had made these bookings back in 2016, saying “We would like to return your reservation fee for the time being.”
Further adding, “When we finalise our offerings in India, we will reach out in the market again. We hope to see you back with us once we are ready to launch and deliver in your country.”
It appears that the Elon Musk-led car maker is refunding the years-old bookings as the older generation of the Model 3 is being discontinued.
Tesla Signalling A Nearing Market Entry
Considering this latest development of the emails, sent from Tesla domains, the company is hinting that the car maker is planning to start sales in the South Asian nation after years of hesitation due to its high import duties.
Some time back, Musk said that he’ll visit India later this year, this was during the time when India is negotiating a trade deal with the US, which may involve lowering tariffs on automobiles in a post on X.
According to the company, a more favorable tariff structure is likely to reshape Tesla’s long-term plans.
Last year, its worldwide vehicle deliveries fell for the first time in more than a decade, this is due to the fact that BYD Co. continues to pose a daunting challenge.
So far, Tesla’s APAC office did not release any comments in this regard.
Seeing Teslas on the Indian streets would definitely please the country’s increasingly affluent upper-middle class population.
But, there is a risk that it could hurt the domestic car makers that employ thousands of people in manufacturing plants.
