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Tesla Refunds Early Model 3 Bookings in India, Fueling Speculation About Launch Plans
Tesla is refunding Model 3 bookings from 2016, hinting at a possible launch in India after years of delays. The emails, sent to early buyers, suggest that Tesla may soon start retail sales in the country once the high import duties are addressed.
Tesla Inc.'s India office is refunding Model 3 booking fees to early buyers, according to emails obtained by Bloomberg News. This has led to speculation that the American electric car maker is preparing to launch in India, the world’s third-largest auto market.
The emails sent to customers who booked their Model 3 reservations back in 2016 read, "We would like to return your reservation fee for the time being. When we have finalized our services in India, we will reach out to the market again. We look forward to seeing you back when we're ready to launch and provide services in your country."
Tesla is refunding these bookings because the previous version of the Model 3 is being discontinued. These emails, sent from the Tesla India refund domain, suggest that Tesla is planning to start retail sales in India after years of delays due to the country's high import duties.
A few days ago, Elon Musk mentioned in a post on X that he will visit India at the end of this year. This visit comes as India is negotiating a trade deal with the US, which could include lower tariffs for automobiles. If the tariff structure becomes more favourable, it could change Tesla's long-term plans.
Tesla's global vehicle deliveries dropped last year for the first time in over a decade, and competition from BYD Co. continues to challenge Tesla. Despite this, a launch in India could appeal to the country’s wealthy middle-class population. However, this could also impact US-based automobile manufacturers that employ many workers in their factories.
