Tesla launches $70,000 Model Y in India due to high import tariffs.

Tesla launched the Model Y in India on Tuesday with a price of around $70,000, making it the most expensive in the market. The American car manufacturer, which is facing slowing sales in its main markets, is now betting on the prospects in India. CEO Musk has long criticized high import duties in India. Tesla expects to start delivering cars from the third quarter, targeting a niche market for electric vehicles in India, which only accounts for 4% of total sales in the world's third-largest car market. Tesla opened its first showroom in Mumbai on Tuesday and started accepting Model Y orders on its website. This marks Tesla's long-awaited entry into the market. Musk had previously planned to open a factory in Mumbai. Currently, Tesla will import cars into the country, facing tariffs and related taxes that could exceed 100%, thus raising consumer prices. However, the cars showcased in Mumbai are produced in China, as Tesla's US factories do not currently produce right-hand drive cars for India. The price of the Tesla Model Y rear-wheel drive model is approximately 6 million INR, while the long-range rear-wheel drive model is priced at 6.8 million INR. In comparison, the starting price is $44,990 in the US, 263,500 yuan in China, and 45,970 euros in Germany. The full self-driving feature of the car requires an additional payment of 600,000 INR, and promises that future updates will require minimal driver intervention.