Latest news with #PrimeMinisterModi
Yahoo
25-06-2025
- Automotive
- Yahoo
Tesla Makes 2 Big Moves for Its Future
Tesla set its sights on the world's third-largest auto market. Tesla's robotaxi ambitions kicked off with a pilot service in Austin. If successful long-term, robotaxis could multiply Tesla's current valuation. These 10 stocks could mint the next wave of millionaires › It's been a fairly wild ride for Tesla (NASDAQ: TSLA) in 2025. With sales falling in key markets, a brutal price war in China, and consumer backlash against CEO Elon Musk dipping his toes in the political pool, there's been plenty of bad news to digest. Pushing that aside for a second, however, let's take a look at the electric vehicle (EV) maker's recent moves to boost sales and set up its robotaxi future. Tesla's setting up to make a move in the world's third-largest automotive market as the EV maker aims to offset falling sales around the globe by opening showrooms in India next month. Already, Tesla Model Ys are arriving in India, shipped from Tesla's China factory. While this might seem like a sudden move, it's actually the culmination of many years of considering entering the market, and pulling back due to disagreements over tariffs and manufacturing. That seemed to change when Musk met Indian Prime Minister Narendra Modi in the U.S. last February. This won't be an easy task for Tesla, however. Due to tariffs the Model Y is expected to go on sale in India around $56,000 before taxes and insurance. This compares to $44,990 for the same model in the U.S. market, which drops to $37,490 with tax credits applied -- for however long that lasts. Further, India's EV share of its automotive market is just over 5%, and premium cars represent less than 2% market share. It's a good move for Tesla, and a logical one, especially considering China's automotive production overcapacity problem -- although it's less a problem for Tesla -- and sending vehicles from China to India helps. But investors would also be wise to temper growth expectations; the market isn't exactly ripe for the picking when it comes to expensive EVs. After years of promising, the moment has finally arrived for Tesla's robotaxi ambitions. Over the weekend Tesla launched a small pilot robotaxi service in Austin, Texas, which some believe is the beginning of a much more lucrative business thesis for the automaker. "We attended Tesla's robotaxi launch ... and got the opportunity to take multiple rides in a robotaxi," Wedbush Securities said in a research note June 22, according to Automotive News. "Overall, these robotaxis exceeded our expectations and offered a seamless and personalized travel experience that has lit the spark for autonomous driving." For investors, the development of Tesla's robotaxi business could define its future. Already Tesla's market capitalization is over $1.1 trillion, more than many of its automotive competitors combined, and Musk has said the company's pivot to AI, robotics, and robotaxis will multiply that valuation several times. Tesla's robotaxi pilot included short drives in a limited geofenced area for a flat fee of $4.20, and while the vehicles were fully autonomous there was a safety monitor in the cars for safety precautions. Considering some of the missteps and problems of its competition, the company was probably wise to promote safety first. The robotaxi pilot might have been small, and Tesla opening showrooms in India won't move the needle in the near term, but these were both smart moves for Tesla and its investors. Being able to export vehicles from China amid a brutal price war and overcapacity gives the company flexibility, and keeping investors enticed with a potentially lucrative robotaxi future was important. While there's plenty of bad news for Tesla investors to digest, don't overlook the small positive moves its made recently as well. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $373,895!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,253!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $676,023!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 23, 2025 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Tesla Makes 2 Big Moves for Its Future was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
21-06-2025
- Automotive
- Yahoo
Tesla's $56K India Gamble: Will the Model Y Sell in a Price-Sensitive Market?
Tesla (NASDAQ:TSLA) is finally hitting the accelerator in India. After years of back-and-forth, the EV giant is opening its first showroom in Mumbai this July, followed by another in New Delhi. It's starting with the Model Yshipped straight from its Shanghai plantmarking the company's first official sales push into the world's third-largest car market. Internal documents and people familiar with the matter confirm that Tesla has also brought in Supercharger hardware, car accessories, and parts from the US, China, and the Netherlandslaying the groundwork for a broader rollout. This move follows Elon Musk's February meeting with Indian Prime Minister Narendra Modi and could signal the start of a long-term India strategy. But it won't be an easy ride. Each Model Y imported was declared at just under $32,000, but racked up over $25,000 in import duties due to India's 70% tariff on fully-built EVs. Final sticker price? North of $56,000 before tax and insurancenearly 50% more than the U.S. price post-incentives. For a market where EVs still make up just 5% of new car sales and luxury vehicles are under 2%, Tesla will need more than brand power to spark volume. Still, the company is quietly building momentum. It's securing warehouse space in Karnataka and Gurugram, boosting hiring across charging, retail, and policy teams, and sending execs from abroad to oversee showroom setup in luxury districts. The early signs point to a premium positioning play aimed at affluent Indian buyers. Whether that strategy holdsor pivotswill depend on how fast Tesla can shift from imports to local production. For now, it's a high-stakes, high-margin experiment in one of the world's fastest-growing auto markets. This article first appeared on GuruFocus.
Globe and Mail
21-06-2025
- Automotive
- Globe and Mail
Tesla (TSLA) Will Open New Showrooms in India Next Month
EV maker Tesla (TSLA) is finally entering the Indian market and is starting with new showrooms in Mumbai and New Delhi. Indeed, the Mumbai location is expected to open in mid-July, with the New Delhi showroom following shortly after. This move comes just months after Tesla CEO Elon Musk met with Indian Prime Minister Narendra Modi to discuss import taxes and local manufacturing, as India currently imposes a steep 70% tax on fully-built imported cars that cost under $40,000. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Interestingly, Bloomberg reported that Tesla has already shipped five Model Y SUVs from its Shanghai factory to Mumbai. These vehicles were valued at about 2.77 million rupees, or roughly $32,000, but were hit with over 2.1 million rupees in import duties, which raised the sticker price to more than $56,000. That's significantly more than the Model Y's U.S. price of around $40,000, which could be a challenge in a country where electric vehicles make up just 5% of new car sales, while luxury EVs make up less than 2%. Still, Tesla plans to grow in India, with new warehouses coming to Karnataka and Gurugram. To encourage EV adoption and manufacturing, India introduced a policy in March 2024 that allows foreign carmakers to import up to 8,000 EVs per year at a lower tariff if they commit to investing at least $500 million in local production. In response, Tesla has reportedly proposed building a $2–3 billion factory in India that could eventually produce up to 500,000 vehicles annually. What Is the Prediction for Tesla Stock? Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 14 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $286.14 per share implies 10.4% downside risk. See more TSLA analyst ratings
Malay Mail
11-06-2025
- Automotive
- Malay Mail
India's Maruti Suzuki cuts near-term EV production amid rare earths crisis
NEW DELHI, June 11 — Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited 'supply constraints' in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Maruti still plans to meet its output target of 67,000 EVs for the year ending March 2026 by ramping up production in subsequent months, the document said. China's curbs on some rare earth exports have rocked the global auto industry, with companies warning of severe supply chain disruptions. While some companies in the United States, Europe and Japan are seeing supplies easing as they secure licences from Beijing, India is still waiting for China's approval amid fears of production stoppages. Launched amid much fanfare at India's car show in January, the e-Vitara is crucial to Maruti's EV push in the country, marking its entry in a segment that Prime Minister Narendra Modi's government wants to grow to 30 per cent of all car sales by 2030 from about 2.5 per cent last year. The setback could also hurt parent Suzuki Motor, for which India is the biggest market by revenue and a global production hub for EVs. The bulk of the made-in-India e-Vitaras are earmarked for export by Suzuki to its major markets like Europe and Japan around summer 2025. Maruti told reporters last week the rare earths issue had no 'material impact' on the e-Vitara's launch timeline. Chair RC Bhargava said there was 'no impact at the moment' on production, local media reported on Monday. Maruti and Suzuki did not respond to requests for comment yesterday. Maruti shares trading on the Indian stock exchange fell as much as 1.4 per cent to the day's low after the news. Maruti is yet to open bookings for the e-Vitara with some analysts warning it is already late to launch EVs in the world's third-largest car market where Tesla is also expected to begin sales this year. Under its previous plan 'A', Maruti was to produce 26,512 e-Vitaras between April and September — the first half of the fiscal year. Under the revised plan 'B', it will manufacture 8,221, the document showed, indicating a two-thirds cut in its production schedule. However, in the second half of the financial year — between October and March 2026 — Maruti plans to ramp up production to 58,728 e-Vitaras, or about 440 per day at its peak, versus a previous target of 40,437 for those six months under plan A. Two supply chain sources confirmed Maruti's plan to scale back e-Vitara production because of rare earth magnet shortages but were not privy to the exact numbers. The rare earths crisis comes as Maruti is already grappling to recover market share lost to Tata Motors and Mahindra & Mahindra's feature-rich SUVs. These companies also lead India's EV sales. Maruti's share of India's passenger vehicle market is down to 41 per cent from a recent peak of about 51 per cent in March 2020. Suzuki has trimmed its sales target for India to 2.5 million vehicles by March 2031 from 3 million previously, and scaled back its lineup of EV launches to just four, instead of the six planned before, as competition in the South Asian nation intensifies. — Reuters
Zawya
10-06-2025
- Automotive
- Zawya
India's Maruti Suzuki cuts near-term EV production amid rare earths crisis
Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Maruti still plans to meet its output target of 67,000 EVs for the year ending March 2026 by ramping up production in subsequent months, the document said. China's curbs on some rare earth exports have rocked the global auto industry, with companies warning of severe supply chain disruptions. While some companies in the United States, Europe and Japan are seeing supplies easing as they secure licences from Beijing, India is still waiting for China's approval amid fears of production stoppages. Launched amid much fanfare at India's car show in January, the e-Vitara is crucial to Maruti's EV push in the country, marking its entry in a segment that Prime Minister Narendra Modi's government wants to grow to 30% of all car sales by 2030 from about 2.5% last year. The setback could also hurt parent Suzuki Motor, for which India is the biggest market by revenue and a global production hub for EVs. The bulk of the made-in-India e-Vitaras are earmarked for export by Suzuki to its major markets like Europe and Japan around summer 2025. Maruti told reporters last week the rare earths issue had no "material impact" on the e-Vitara's launch timeline. Chair RC Bhargava said there was "no impact at the moment" on production, local media reported on Monday. Maruti and Suzuki did not respond to requests for comment on Tuesday. Maruti shares trading on the Indian stock exchange fell as much as 1.4% to the day's low after the news. Maruti is yet to open bookings for the e-Vitara with some analysts warning it is already late to launch EVs in the world's third-largest car market where Tesla is also expected to begin sales this year. Under its previous plan "A", Maruti was to produce 26,512 e-Vitaras between April and September - the first half of the fiscal year. Under the revised plan "B", it will manufacture 8,221, the document showed, indicating a two-thirds cut in its production schedule. However, in the second half of the financial year - between October and March 2026 - Maruti plans to ramp up production to 58,728 e-Vitaras, or about 440 per day at its peak, versus a previous target of 40,437 for those six months under plan A. Two supply chain sources confirmed Maruti's plan to scale back e-Vitara production because of rare earth magnet shortages but were not privy to the exact numbers. The rare earths crisis comes as Maruti is already grappling to recover market share lost to Tata Motors and Mahindra & Mahindra's feature-rich SUVs. These companies also lead India's EV sales. Maruti's share of India's passenger vehicle market is down to 41% from a recent peak of about 51% in March 2020. Suzuki has trimmed its sales target for India to 2.5 million vehicles by March 2031 from 3 million previously, and scaled back its lineup of EV launches to just four, instead of the six planned before, as competition in the South Asian nation intensifies.
