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Tesla CEO wrote on his social platform X, about the price cut down, says the price should change to match the demand.
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According to reports, while Musk is expected to disclose an investment amount for India, he may refrain from providing specific details such as a timeline or where the plant will be constructed.
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The FAME scheme by Indian government has been replaced with the new EMPS scheme for the next 4 months, And the sales of electric 2 wheelers has fallen in April 2024, exceeding the numbers in past.
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Launching operations in India is one of the strategic decisions to expand into new markets for Tesla, which suffered a dip in worldwide sales in the first quarter this year which marked an uncomfortable first in nearly four years. Slower growth in China and the US – the company’s two key markets – could have accelerated the entry into India, the report mentioned.
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Tesla is currently the world's largest automotive company by market value. Musk is touring India this month, and it is speculated that he may announce significant investments during this time. India presents as a solid investment destination as Tesla looks to expand its manufacturing horizons beyond China.
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Ola Electric sold 3.26 lakh E2Ws in FY24.
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India’s largest electric two wheeler (e2w) maker, Ola Electric reports record number of sales in January 2024.
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The Delhi government attributes this success to its ambitious Electric Vehicle Policy, which was launched by Chief Minister Arvind Kejriwal in August 2020.
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Ola Electric and Ather Energy are the only two players which had entered the E2W industry as small players and have managed to cement their foothold in the this industry.
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The Centre is now contemplating steps to penalise about half a dozen companies that manufacture electric two-wheelers that were hauled up for claiming subsidies originally designed to encourage the adoption of electric vehicles