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Elon Musk’s Tesla to enter India soon? EV maker restarts search for showroom in Delhi-NCR: Report

Tesla, led by Elon Musk, has renewed its search for showroom spac... Read More
Elon Musk-led Tesla has recommenced its search for showroom locations in New Delhi, according to two sources who spoke to Reuters, indicating a potential reconsideration of its Indian market entry after previously suspending investment plans this year.

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Following a temporary pause in its Indian showroom search, Tesla has now initiated preliminary discussions with DLF regarding space in the capital region, according to two sources with direct knowledge of the developments.

According to one source, Tesla seeks 3,000 to 5,000 square feet for a customer experience centre, plus additional space triple that size for service and delivery operations.

The company is considering various locations, including DLF's Avenue Mall in southern Delhi and the Cyber Hub complex in Gurugram.

Earlier this year, Elon Musk indicated plans to meet Prime Minister Narendra Modi and potentially announce a $2-3 billion investment in India. The meeting was subsequently cancelled when Tesla announced staff reductions amidst declining sales.

A separate source indicated that the outcome of Tesla's discussions with India's largest property developer remains uncertain, with the company maintaining parallel discussions with other entities.
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Also Read | ‘Investing in India is profitable’: Putin heaps praises on PM Modi; says Russia ready to set up manufacturing operations in India

The Avenue Mall, which houses international retailers like Uniqlo, Mango and Marks and Spencer, is being considered for an 8,000 square feet Tesla showroom, according to the second source.

The first source emphasised that Tesla's search remains in preliminary stages without final decisions.

Questions remain regarding Tesla's approach to vehicle imports, whether at the 100% tax rate or under India's new policy allowing certain EVs at 15% import duty.

Following Tesla's previous unrealised investment plans, the Indian government is considering policy adjustments to attract manufacturers like Hyundai Motor and Toyota, who have shown preliminary interest.

While India's EV market currently represents approximately 2% of total car sales of 4 million annually, the government aims to increase this to 30% by 2030.

Tesla's showroom search coincides with Musk's Starlink considering Indian market entry.

Who Will Be World’s First Top 10 Trillionaires? Two Indians, Gautam Adani & Mukesh Ambani, Make It To The List!

World’s First Top 10 Trillionaires: Who will become the world’s first trillionaire with a net worth of over $1 trillion and by when? Who will be the first top 10 trillionaires in the world in the coming years? While no one in the world has officially claimed the title of trillionaire - at least not yet - there are several strong contenders, according to a recent report by the Informa Connect Academy. Tesla’s Elon Musk is likely to become the first trillionaire in the world! And, two Indians - Gautam Adani and Mukesh Ambani - have made it to this coveted list! In fact, Gautam Adani may become the world’s second trillionaire! Here are the top 10 multi-billionaires who are likely to reach trillionaire status in the coming years, as listed by the Informa Connect Academy:

World’s First Trillionaire Soon? Elon Musk, with a net worth of $195 billion, growing at an average rate of 109.88% annually, is regarded as the top contender to become the world’s first trillionaire by 2027, according to the Informa Connect Academy report. Elon Musk is the co-founder and leader of Tesla, SpaceX, Neuralink, and The Boring Company. He oversees all product design, engineering, and global manufacturing for Tesla’s electric vehicles, battery systems, and solar energy products. (Reuters photo)

India’s Gautam Adani has an estimated net worth of $84 billion. With an average growth rate of 122.86% per year, Gautam Adani is positioned to become a potential trillionaire by 2028, says the Informa Connect Academy report. Adani is the founder and leader of the Adani Group, which operates across a diverse range of industries. The individual subsidiaries of the Adani Group boast multi-billion dollar market capitalizations. (BCCL photo)

Jensen Huang is the co-founder of the trillion-dollar company NVIDIA and its long-serving CEO. He is projected to become a trillionaire by 2028. With an estimated net worth of $77 billion and an impressive average annual growth rate of 111.88%, Huang's leadership continues to drive NVIDIA's remarkable success. (Getty Images via AFP photo)

Prajogo Pangestu, with a net worth of $43.4 billion and an average growth rate of 135.95%, is on track to surpass $1 net worth trillion by 2028, says the Informa Connect Academy report. Prajogo Pangestu began his entrepreneurial journey in the 1970s with a timber business, which he later expanded into the Indonesia-based conglomerate Barito Pacific. (Image source: Barito Pacific)

Bernard Arnault and his family have a collective net worth of approximately $233 billion. With an average growth rate of 29.33%, they are projected to reach $1 trillion net worth by 2030. Bernard Arnault is the founder of LVMH Moët Hennessy Louis Vuitton (LVMH), a global leader in luxury goods. With a market cap of $379.98 billion, LVMH ranks 20th among potential trillion-dollar businesses. (Image source: LVMH)

Mark Zuckerberg is expected to become a trillionaire in 2030, with his net worth growing at an average 35.76% annually. Mark Zuckerberg is the founder, chairman, and CEO of Meta. He initially established it as Facebook in 2004. He plays a pivotal role in shaping the company's overall direction and product strategy. Recently, he ascended to become the world's second-richest person, according to Bloomberg's Billionaires Index for 2024. (Reuters photo)

Phil Knight and Family, with a net worth of $40.9 billion in 2024 will become a trillionaire in 2030, with an average annual growth rate of 7.99%, says the Informa Connect Academy report. Phil Knight serves as Chairman Emeritus of NIKE, Inc. He is the co-founder of the company, having transformed it from a modest partnership established through a handshake into the world's largest footwear, apparel, and equipment company. (Getty Images photo)

India’s Mukesh Ambani is expected to become a trillionaire in 2033 with an average annual growth rate of 28.25% in net worth, according to the Informa Connect Academy report. He is the Chairman and Managing Director of Reliance Industries, which stands as India's most valuable company by market capitalization. RIL operates across a range of sectors, including energy, petrochemicals, textiles, natural resources, retail, and telecommunications. (Getty Images photo)

Michael Dell, with a net worth of $91 billion, going at an average annual rate of 30.89%, is likely to enter the trillion dollar club in 2033, says the Informa Connect Academy report. Michael Dell serves as the Chairman and Chief Executive Officer of Dell Technologies, a prominent innovator and leader in the technology sector. Dell Technologies ranks among the largest IT companies globally. (BCCL photo)



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