Latest news with #SohiniDas
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Business Standard
15-07-2025
- Automotive
- Business Standard
EV giant Tesla's Model Y in India to cost more than in US or Europe
Tesla opens bookings for Model Y in India at up to ₹67.89 lakh due to high import duties, with first deliveries expected later in 2025 from Shanghai plant Sohini Das Mumbai On a rain-soaked Tuesday morning in Mumbai's commercial hub, Bandra Kurla Complex (BKC), a large crowd of media personnel gathered outside American electric vehicle (EV) giant Tesla's first Indian 'Experience Centre'. A middle-aged woman with her teenage daughter in a pink raincoat stood among curious onlookers outside the showroom. 'I've been following news on Tesla and thought of dropping by since I was in the neighbourhood,' she said, adding that the brand already enjoys strong recall in India for its driverless car technology. However, Tesla is not bringing its full self-driving (FSD) technology to India just yet. Maharashtra's Chief Minister Devendra Fadnavis emerged from the 4,000 sq. ft showroom displaying two Tesla Model Y cars—one white, one red. 'Consider Maharashtra as a partner in your journey,' said Fadnavis, expressing hope that Tesla would consider setting up R&D and manufacturing facilities in India. He recalled riding a Tesla vehicle in the US back in 2015. Tesla opened bookings for the Model Y—billed as the world's bestselling car in 2023 and 2024—at ₹59.89 lakh for the rear-wheel drive (RWD) version and ₹67.89 lakh for the long-range RWD. This makes it more expensive in India than in markets like the US (₹40 lakh), China (₹31.5 lakh), or even Germany (₹46 lakh), owing to import duties and shipping costs. India imposes tariffs of 70 to 110 per cent on fully built imported cars. The vehicles will initially be imported from Tesla's Shanghai plant. The company will begin deliveries of the Model Y RWD in late Q3 calendar 2025, and the Long Range RWD variant in Q4CY2025. Bookings can be made on the Tesla website for ₹22,000 or directly at the Mumbai showroom. Coincidentally, Vietnamese automaker VinFast also began bookings on Tuesday for its premium electric SUVs, the VF 6 and VF 7, with a ₹21,000 booking amount. Fadnavis expressed confidence in Tesla's success in India. 'People in India are eagerly waiting for Tesla. I am sure you will find one of your best markets here once you start deliveries,' he said. Mahindra Group Chairman Anand Mahindra welcomed Tesla with a post on X (formerly Twitter): 'Welcome to India, @elonmusk and @Tesla. One of the world's largest EV opportunities just got more exciting. Competition drives innovation, and there's plenty of road ahead. Looking forward to seeing you at the charging station.' Tesla's Model Y (500–622 km range, 0–100 km/h in 5.6–5.9 seconds, 15.4-inch touchscreen) faces stiff competition in India. Rivals include the BYD Seal Performance (₹53 lakh, 580 km range, 0–100 km/h in 3.8 seconds, 15.6-inch rotating screen, panoramic sunroof) and the Kia EV6, priced ₹60–65 lakh with a 708 km range. The Mercedes EQB is priced at around ₹72 lakh, and the BMW iX1 ranges from ₹50–65 lakh. Tesla's entry into India is widely seen as a move to offset slowing momentum in its key markets—the US and China. Chinese rival BYD is closing in, having sold 1.76 million EVs in 2024 compared to Tesla's 1.79 million. India holds promise, particularly in the luxury EV segment. According to VAHAN data, EVs accounted for 11 per cent of luxury vehicle sales between January–May 2025, up from 7 per cent during the same period in 2024—a 66 per cent year-on-year rise. However, luxury cars priced above ₹55–60 lakh still represent just around 1 per cent of the Indian passenger vehicle market, which ranks third globally. Isabel Fan, Tesla's Director for Southeast Asia, told reporters the company will set up 16 Supercharger stations and after-sales service centres in both Mumbai and Delhi. Each city will also have 15–16 slower destination chargers. Additionally, Tesla is offering free home charging installation for a limited period. While India could emerge as a significant market for Tesla globally, the launch event in Mumbai was underwhelming. Unlike Apple's 2023 BKC store launch, which saw CEO Tim Cook in attendance, Tesla's CEO and co-founder Elon Musk was notably absent. The event was marred by poor organisation and confusion. Several bystanders expressed disappointment at the high pricing. 'I was eagerly waiting for the Tesla, but expected it would be priced around ₹30–35 lakh, similar to the US. I would have considered it alongside a Mahindra or Tata EV. But now, I'm not sure it lives up to the hype at this price,' said a young banker working in the same complex.
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Business Standard
08-07-2025
- Health
- Business Standard
Apollo AyurVAID aims for 1,000 beds by 2028, eyes ₹500 crore turnover
Apollo AyurVAID, one of India's largest Ayurvedic hospital chains, targets 1,000 beds and Rs 500 crore turnover by 2028, as demand for Ayurvedic treatments rises Sohini Das Mumbai Listen to This Article Apollo AyurVAID, one of the largest Ayurvedic hospital chains in India, aims to have 1,000 beds across the country by 2028, as it sees demand for Ayurvedic treatment rising. The chain, which currently operates 12 hospitals and had 185 beds in operation by the end of FY25, handles around 40,000-42,000 patients annually. It is targeting 200,000 patients annually in the next five years, by which time the hospital chain aims to reach a ₹500 crore turnover. Speaking to Business Standard, Rajiv Vasudevan, Founder, CEO, and MD of Apollo AyurVAID, said that the company is expanding in cities like Chennai, Hyderabad,
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Business Standard
23-06-2025
- Business
- Business Standard
Decision on merger with Biocon Biologics soon, says Siddharth Mittal
We are talking about the GLP-1 opportunity and our strong franchise in insulins. There is a huge demand in the global diabetes-obesity segment, said Siddharth Mittal Sohini Das Mumbai Listen to This Article Biocon successfully raised ₹4,500 crore through a qualified institutional placement (QIP) last week that saw strong interest from both Indian and global investors. It is also considering a merger of Biocon Biologics with Biocon to tap into business and scientific synergies rather than listing Biocon Biologics. In a virtual interaction with Sohini Das, Siddharth Mittal, chief executive officer (CEO) and managing director (MD) of Biocon outlined his plans. Edited excerpts: Your QIP was successful. What do you plan to do with the proceeds? There was very strong investor demand. The Board had approved raising up to ₹4,500 crore in one,
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Business Standard
19-06-2025
- Health
- Business Standard
Pharma manufacturing tends to cause AMR in communities: Nick Voulvoulis
Changes are required both in manufacturing practices as well as in regulatory oversight, says Voulvoulis Sohini Das Mumbai Listen to This Article Nick Voulvoulis is professor of environmental technology at the Centre for Environmental Policy, Imperial College, London. He has collaborated with Indian institutions for research that uncovered the link between antibiotic manufacturing in the country and the rise of antimicrobial resistance (AMR). Voulvoulis, in an email interview with Sohini Das, explained how low-cost antibiotics pressure manufacturers to spend on costly waste disposal. Edited excerpts: Which AMR research projects are you working on? I led a project called AMRWatch, which was one of five funded projects under the India-UK Tackling AMR in the Environment from Antimicrobial Manufacturing Waste programme funded by the
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Business Standard
09-06-2025
- Automotive
- Business Standard
TaMo eyes 40% CV, 16% PV market share; EV biz hits Ebitda breakeven
Tata Motors targets 40% share in CVs and 16% in PVs by FY27, plans major EV investments and demerger of vehicle businesses by end-2025 premium Sohini Das Anjali Singh Mumbai Listen to This Article Tata Motors is setting its eyes on gaining market share across its passenger vehicle (PV) and commercial vehicle (CV) businesses — 40 per cent share in CVs and a 16 per cent share in PVs by 2027. Meanwhile, it has already achieved EBITDA breakeven in its electric vehicle (EV) business at 1.2 per cent (up 830 bps), ahead of its FY26 target. The company is already a market leader in CVs with a 37.1 per cent share in FY25, but in PVs it aims to go past its Korean peer Hyundai Motor India with a long-term target of 18–20 per
