"Tesla CEO Elon Musk suggest India's entry in 2021"

•  Tesla's entry could come at a time when the Modi government is foHerecusing on the use and production of electric vehicles.

•   India will be the next automatic border for Tesla to remove cars from factories in China, the world's largest car market.

  

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New Delhi: US electric car maker will hit the Indian market in 2021, Tesla Inc. chief executive Elon Musk said on Friday.

  "Definitely next year," Musk said in response to a post on Twitter with photos of the T-shirt: "India wants Tesla."

  "Thank you for waiting," Musk said.  He was responding to a tweet from a Twitter handle called Tesla India Club, which told billionaires, "Hey Elon, we thought we'd put it here. We've stopped and hope India will join Tesla soon." I would love to hear any progress in this regard."

  Tesla's entry could come at a time when Prime Minister Narendra Modi's government is focusing on promoting the use and production of electric vehicles.

  The coronavirus epidemic has hit India's automotive sector hard all over the country (or across the continent) in the wake of a slowdown in demand last year, and vehicle owners are seeking government support to put pressure on sales.

  Musk had commented on coming to India last year, when someone on Twitter asked, "What about India sir?"  He answered such a question.

  "Would love to go there this year. If not, of course!"  He said in March 2019.

  India will be the next automatic border for Tesla after the Chinese movement.

  The American electric car maker recently cut its China-made Model 3 sedan by 8% to 249,900 yuan ($ 80,005), once taking into account subsidies for Chinese electric vehicles.

  Previously, after the state purchase subsidy, the starting price for a Model 3 sedan manufactured at Tesla's Shanghai factory with a standard driving range was 271,550 yuan.

  Tesla began delivering cars from the Shanghai factory in December, which will help reduce transportation costs and charges for imported models.

  Tesla sold more than 11,000 vehicles in August in China, the world’s largest car market, most of the Model 3S.

  It is also building new car production capacity for Model Y sports-utility vehicles in Shanghai and is expected to start delivering it from next year.

  Tesla shares have risen 495% this year.  The rally brought the market value to about 400 400 billion, making it one of the largest companies listed on the U.S. exchange.  The 4% growth of the S&P 500 in 2020 has been helped by the dominance of the stock market, which has helped the technology-heavy Nasdaq 100 grow by almost 30%.  Data compiled by Bloomberg Show 4.4% of the day in 2020, compared to 1.5% of the S&P 500.