&w=3840&q=100)
Curtains rise today on Tesla's India foray; Model Y tipped as flagbearer
Anjali Singh Prachi Pisal Mumbai
Listen to This Article
Global electric vehicle giant Tesla is set to make its long-awaited India debut on Tuesday, with the launch of its flagship Model Y SUV expected to headline the occasion. The American automaker has locked in Mumbai's upscale Bandra Kurla Complex (BKC) as the location for its first showroom in the country, marking a significant milestone in its entry into India's burgeoning EV landscape.
Less than 24 hours before the unveiling, final preparations were underway at Tesla's 4,000 sq ft space in Maker Maxity — an exclusive commercial enclave in BKC that houses sovereign wealth funds and global investment banks. Just
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
42 minutes ago
- Time of India
Operation Kalanemi: Police nab 82 fake saints during Char Dham, Kanwar Yatra in Uttarakhand
Tesla debuts in India with first showroom at Mumbai's BKC, launches at ₹60-68 lakh Tesla debuts in India with first showroom at Mumbai's BKC, Model Y priced at ₹60-68 lakh Tesla debuts in India with first showroom at Mumbai's BKC, Model Y priced at ₹60-68 lakh Spanish PM Pedro Sanchez arrives in India to inaugurate Tata-Airbus Aircraft plant with PM Modi PM Modi, Andhra CM Chandrababu Naidu and DY CM Pawan Kalyan hold mega road show in Visakhapatnam PM Modi flags off first 'Make in India' Locomotive export to Guinea from Marhowrah Factory PM Modi flags off first 'Make in India' Locomotive export to Guinea from Marhowrah Factory Modi receives ceremonial welcome in Brunei; Indian Diaspora welcomes PM with pride and enthusiasm
Mint
an hour ago
- Mint
Barry Eichengreen: Germany's budget expansion makes sense while America's is reckless
Recent weeks have been momentous for government budgets in the US and Germany. In the US, both Houses of Congress passed versions of President Donald Trump's One Big Beautiful Bill, which Trump signed on the US Independence Day, 4 July. In Germany, meanwhile, Chancellor Friedrich Merz's government agreed to the outlines of a 2025 budget and a spending path for the rest of the decade. Both fiscal plans augur larger budget deficits and higher debt. But that is about all they have in common. The US budget will make permanent Trump's 2017 tax cuts and add exemptions for tip income, overtime pay and loan interest on domestically assembled motor vehicles. It will 'pay' for these provisions—if that's the right word—by cutting healthcare and food assistance for low-income households and by eliminating a range of clean-energy-related tax credits. There are so many negative things to say about Trump's Big Bad Bill that it's hard to know where to start. Also Read: Dear Trump… Nobody can glower American interest rates down To begin with, the legislation is massively regressive, combining permanent tax cuts for corporations and the wealthy with reductions in support for the poorest families. By phasing out tax credits for rooftop solar, electric vehicles and zero-emission electricity, it is a disaster for the environment. Given reductions in science funding and the addition of new taxes on universities, it is hard to imagine how it will unlock a tsunami of productivity growth in America. Moreover, the budget is fiscally irresponsible. The Congressional Budget Office, the country's non-partisan fiscal watchdog, estimates that it will increase the deficit by $3.5 trillion over the coming decade. This may not seem like a crushing burden for a $30 trillion economy. But it comes on top of a deficit that is already north of 6% of GDP, a debt-to-GDP ratio of 120% and interest rates that are high and rising. Also Read: American puzzle: Trump's tariffs have resulted in an inflation paradox The US actually has a fiscal rule that is binding in cases of congressional reconciliation, the name for the legislative process that allowed bare majorities in the House and Senate to force through the final bill. Known as the Byrd Rule, this provision prevents the use of reconciliation if the budget continues to increase the deficit, relative to the previous baseline, after the initial ten years—as the Congressional Budget Office has determined the current bill will do. The US Senate 'addressed' this problem by creatively redefining the baseline to include Trump's expiring tax cuts, making the residual increase look smaller. So much for the Republican Party's pious rhetoric about stabilizing the debt. Also Read: Will Germany under Friedrich Merz script the EU's independence from America? Germany has also relaxed its fiscal rule, but only partially and—crucially—not in a manner that threatens debt sustainability. The country's 'debt brake,' the constitutional provision that limits borrowing to just 0.35% of GDP on a cyclically adjusted basis, was amended in March to exclude both military spending in excess of 1% of GDP and a fixed package of infrastructure spending. The rationale is clear and compelling. More defence spending, for example, is needed for Germany's security, given a belligerent Russia on Europe's doorstep and the new reality that the US is no longer a trustworthy ally. Similarly, additional infrastructure investment is needed to make good on a long-standing shortfall that now threatens economic growth. Also Read: Dani Rodrik: How ideology sometimes trumps material interests Where the US budget includes $12.5 billion to upgrade air-traffic infrastructure, the German budget foresees €42 billion ($49 billion) a year over 12 years for investment in railways, roads, energy transmission and climate-change abatement—and this in an economy only a sixth of that of the US. It is not hard to see which country's fiscal strategy will have a larger impact on economic growth. But while Germany has relaxed its debt brake, and government borrowing will now increase, the provisions that remain in place will prevent German public debt from rising without limit. Critically, items still subject to the 0.35% deficit ceiling include interest payments—even interest on debt incurred to increase defence spending and upgrade infrastructure. As more debt is issued for these purposes and more interest is paid, other spending will have to be cut, or taxes will have to be raised, to meet the 0.35% limit. Also Read: Rahul Jacob: Global alliances have changed and so have German policies This will automatically stabilize the debt-to-GDP ratio, albeit at a level closer to 100% of GDP than the current 63%. But if Germany doesn't abandon the debt brake entirely, there will be no crisis of debt sustainability in which the ratio rises without limit. That's a big if. But anyone who knows Germany knows that Germans are committed, morally and politically, to debt sustainability. Relaxing budgetary austerity for good reasons such as security and long-term growth is one thing. Abandoning all fiscal common sense is quite another. Germans know the difference. Sadly, Trump's America does not. ©2025/Project Syndicate The author is professor of economics and political science at the University of California, Berkeley, and the author, most recently, of 'In Defense of Public Debt'
NDTV
an hour ago
- NDTV
'Can Get 2 Mahindras': Tesla's Rs 70 Lakh Price Tag Stuns Indians
Tesla finally made its India debut with its Model Y SUV, but the price has left many Indians shocked. While the electric vehicle (EV) costs approximately $38,000 (Rs 33 lakh) in the United States, it will retail at nearly double the price in India, with top variants going up to Rs 70 lakh. The American EV giant, led by Elon Musk, has announced that the Model Y will come in two variants: A standard rear-wheel drive version with a claimed range of 500 km, priced at Rs 62 lakh. A long-range version offering 622 km on a single charge, costing around Rs 70 lakh. Deliveries are expected to begin in late 2025. Initially, registration will be allowed in Delhi, Mumbai, and Gurugram, with Tesla also planning to open a flagship showroom in Mumbai. Buyers can also choose a future upgrade to Tesla's full self-driving (FSD) capabilities, which would come at an additional cost of Rs 6 lakh. A user on X wrote, "It's quite a bit more expensive than I was hoping for." Oof it's quite a bit more expensive then I was hoping for Devadath PR (@_devalopr) July 15, 2025 Another wrote, "Does this mean that Tesla is currently subject to a 100% tariff in India? Because at this price, I estimate them to sell around 1,000 units for the rest of 2025." Does this mean that Tesla is currently subject to a 100% tariff in India? Because at this price, I estimate them to sell around 1,000 units for the rest of 2025 Aakash Jhaveri????????????J (@jhaverinator) July 15, 2025 "We can get 2 Mahindra 9e for this price range," a comment read. We can get 2 mahindra 9e for this price range. Tesla lost the price? ???????????????????????????????? (@krishnang2393) July 15, 2025 "Wow that's really expensive," someone said. Wow that's really expensive. Aman (@aman360elite) July 15, 2025 A user said, "Too expensive for the Indian market." Too expensive for Indian market Satish Gannamaneni (@SatishGannaman2) July 15, 2025 India's steep import duty on completely built units (CBUs), up to 100 per cent, is the main culprit behind the inflated price. Tesla has not yet committed to setting up local manufacturing in India, which means the Model Y will be fully imported, attracting high taxes. This comes after years of back-and-forth between Tesla and Indian authorities over the EV company's request for lower import duties, a demand the Indian government has repeatedly resisted.
