logo
Anand Mahindra welcomes Elon Musk's Tesla to India, shares 2017 post: 'See you at charging station'

Anand Mahindra welcomes Elon Musk's Tesla to India, shares 2017 post: 'See you at charging station'

Mint17 hours ago
Indian billionaire Anand Mahindra has rolled out a red carpet for Elon Musk's Tesla, as the electric vehicle (EV) giant officially enters the Indian market.
Mahindra, the chairman of Mahindra Group, took to social media platform X (formerly Twitter) to welcome Tesla, emphasising the importance of competition.
Along with welcoming the company, Mahindra also shared a screenshot of a 2017 exchange between him and Elon Musk.
In that post, Musk had lauded India's commitment to sell only electric vehicles by 2030 and its status as the largest market for solar power.
Responding to that, Mahindra said, 'Time you got here Elon. You don't want to leave the whole market to Mahindra do you? The more the merrier and greenier.'
In the latest X post, Mahindra stated, 'Welcome to India, @elonmusk and @Tesla,' adding that 'One of the world's largest EV opportunities just got more exciting.'
The Indian businessman also stated, 'Looking forward to seeing you at the charging station.'
Mahindra's welcome post received mixed reactions from X users. While some users claimed that Tesla would find it difficult to sell cars to the price-conscious Indian buyers, others praised Tesla for its advanced technology and envisioned its rapid growth in the near future.
A user pointed out that Fortuner sold approximately 29,000 units last year in India at ₹ 35–55L. Will people really buy a Tesla starting at ₹ 60L? Conflicting comments on Anand Mahindra's post.
Another X user mirrored the statement by saying, 'Tesla's arrival won't make much of a difference; only a few rich people will be able to afford it.'
Contrary to the negative comments, a user said, 'Tesla will not just sell EV! It will integrate EV with xAI(Trained on Indian data as well as world data). This is where Indian EV manufacturers will lack and lose the EV battle unless a heavy in-house AI system gets developed.'
Tesla has officially started its operations in India with the inauguration of its first showroom, the 'Tesla Experience Centre', in Mumbai's prominent Bandra Kurla Complex.
The company has launched its premium SUV, the Model Y, with prices starting around ₹ 61 lakh (on-road).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

What is the rent of Mumbai showroom from which Elon Musk will sell Tesla cars in India? It is Rs...
What is the rent of Mumbai showroom from which Elon Musk will sell Tesla cars in India? It is Rs...

India.com

time2 minutes ago

  • India.com

What is the rent of Mumbai showroom from which Elon Musk will sell Tesla cars in India? It is Rs...

Tesla has made its official entry into the Indian market with the launch of its first showroom in the country. Tesla's first Indian showroom, unveiled in Mumbai on Tuesday morning at the Maker Maxity Mall in the Bandra Kurla Complex (BKC), Mumbai. To engage with Indian buyers, the showroom also displays the Tesla name in Hindi. It was inaugurated by Maharashtra's Chief Minister Devendra Fadnavis. Tesla's car prices for the Indian market have already been disclosed, but do you know how much they are paying for their premium showroom that sells premium luxury cars? Tesla has launched its first showroom in India in the Bandra-Kurla Complex in Mumbai. The showroom, which is 4,000 square feet big, will not only provide an opportunity to buy a car, but it will also allow visitors to see Tesla's technology and features first-hand. For the time being, Tesla will sell the Model Y from this location. As per the media reports, Tesla has taken a 4,000 sq ft retail space on a 5-year lease, for mounting costs of monthly rent of around Rs 35 lakh and a total expenditure of more than Rs 25 crore. The electric Midsize SUV, the Tesla Model Y, is priced from nearly INR 60 lakhs. Currently, the Model Y will be the only model available in the country. It will be offered in two variants: Rear-Wheel Drive, priced at INR 60 lakhs, and Long Range Rear-Wheel Drive, priced at Rs 68 lakhs. Interior options include white and black themes, and the vehicle will feature a five-seat configuration. As of now, deliveries and registration are available only in Mumbai, Delhi, and Gurugram, as listed on Tesla's official portal. Pricing may vary depending on the state and applicable local taxes. Customers can also opt for Tesla's Full Self-Driving (FSD) package, which adds an additional cost of Rs 6 lakhs over the base prices. The Model Y will be available in six colour options, of which Stealth Grey is the only one offered at no additional charge. The other colours: Pearl White Multi-Coat, Diamond Black, Ultra Red, Quicksilver, and Glacier Blue, will come at an extra cost. Interior options include white and black themes, and the vehicle will feature a five-seat configuration.

Nifty may hit 26,889 in a year: PL Capital's top 17 stock ideas to ride the rally
Nifty may hit 26,889 in a year: PL Capital's top 17 stock ideas to ride the rally

Economic Times

time2 minutes ago

  • Economic Times

Nifty may hit 26,889 in a year: PL Capital's top 17 stock ideas to ride the rally

Domestic brokerage firm PL Capital projects a significant rally for the Nifty, anticipating it could reach up to 26,889 within the next 12 months. This optimistic outlook is primarily underpinned by the expected outperformance of domestic-oriented sectors, signalling a strong belief in India's internal economic recovery. ADVERTISEMENT Additionally, the brokerage firm has highlighted ICICI Bank, Bharti Airtel, IRCTC and Samhi Hotels among 17 of their top large, small and midcap picks. 'We believe that domestic-oriented sectors like Domestic Pharma, select staples, Banks, capital goods, defence, and power will outperform in the near term,' the report said. Meanwhile, PL Capital's Bull case scenario projects a rally in Nifty up to 28,957, up from an earlier estimate of 27, to PL Capital, Indian markets have demonstrated a lot of resilience in the past few months despite big events and disruptions around global tariff wars, Israel-Iran war and operation acknowledging that FIIs remain net sellers year-to-date, despite turning net buyers in recent weeks, the firm notes that markets appear to have adapted to global volatility and adverse geopolitical developments. Investors seem to be factoring in the unpredictability of U.S. tariff policies, fluctuating crude prices, and shifting global political dynamics. ADVERTISEMENT PL Capital also points out that the "India-US trade deal remains a WIP with issues around agriculture, dairy, GM crops and labour-intensive industries, with no easy solution to these long-pending issues."The firm highlights that the first quarter of the fiscal year has also seen the front-ending of the government Capex with a growth of 61% and 39% in April and May, indicating a momentum in ordering and a significant pick-up in defense expenditure. ADVERTISEMENT Further, PL Capital notes that the "RBI has cut the repo rate by 100bps and has plans to reduce CRR by 100bps in a gradual manner." This strategic move, according to PL Capital, will help improve the liquidity in the system and improve credit growth, which was just 9.5% in 1Q26. Also read: HDFC Bank to consider first-ever bonus share issue on July 19 ADVERTISEMENT All eyes rest on the revival of consumption demand, as stated by PL Capital. This revival is expected to be buoyed by various factors like: ADVERTISEMENT Normal monsoons Multi-year low food inflation Cut in interest rates and CRR, and The benefits of tax cuts in the FY26 budget. PL Capital noted that 1Q26 has shown a mixed trend with stable demand and no major acceleration. Looking ahead, the brokerage firm concludes that the upcoming festival season and spatial distribution of monsoons hold the key to broad-based demand this, PL Capital has highlighted the following stocks as its top picks:ABB India, Apollo Hospitals Enterprise, Bharti Airtel, Hindustan Aeronautics, ICICI Bank, InterGlobe Aviation, ITC, Kotak Mahindra Bank, Lupin, Titan Company. Astral Ltd., Crompton Greaves Consumer Electricals, Ingersoll-Rand (India), Indian Railway Catering and Tourism Corporation (IRCTC), KEI Industries, Samhi Hotels, Triveni Turbine. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

Upcoming IPO: Indira IVF Hospital files for public offer via confidential route
Upcoming IPO: Indira IVF Hospital files for public offer via confidential route

Mint

time2 minutes ago

  • Mint

Upcoming IPO: Indira IVF Hospital files for public offer via confidential route

Upcoming IPO: Indian fertility services provider Indira IVF Hospital joined several other companies that have filed their draft red papers with the stock market regulator Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) via the confidential route, a newspaper advertisement showed on Wednesday. This public announcement is being made to inform the public that the company has filed the pre-filed DRHP with SEBI in relation to the proposed initial public offering of its equity shares on the mainboard of the Stock Exchanges, Indira IVF said, according to the advertisement. The confidential route allows companies to submit draft IPO papers to Sebi for feedback without making the details public, giving them greater flexibility on timing and disclosure. According to a Bloomberg report on Tuesday, Indira IVF's IPO size could be around ₹ 3500 crore. The deal won't involve the issue of new stock as existing shareholders will be selling their holdings, the Bloomberg report added. The report further added that EQT will likely offload ₹ 2,900 crore of shares via the public offer, and three members of the founding family — Ajay Murdia, Kshitiz Murdia and Nitiz Murdia — will each sell shares worth ₹ 200 crore. Indira IVF withdrew its IPO draft filed in February after concerns arose from SEBI about the timing, as it coincided with the release of a Bollywood biopic on its founder. Founded in 2011, the company runs over 155 fertility centres and collaborates with 315 IVF specialists across India, based on its earlier prospectus submitted in September 2024. Meanwhile, according to media sources Gaudium IVF and Women Health, another prominent player in the fertility care space, is also preparing to refile its DRHP in the immediate future, as part of its continued efforts to tap into capital markets and fuel its next phase of growth. Several companies like INOX Clean Energy, Shadowfax Technologies, Shiprocket, Tata Capital and PhysicsWallah and boAt among others have chosen to file IPO papers via confidential route. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store