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India EV Market
A week ago, BYD began selling the Atto 3 in India. They are aggressively trying to sell in India. Another car company is looking to take the EV car market in India. Tata Motors is India's biggest car make in India. One of their vehicles costs $10,000 and they sold 20,000 in the first month in India.
This is very impressive and this car is better than you might think. It has a good sized battery at close to 20 kWH pack and about a 155 mile range. You can spend about $4,000 to $5,000 to increase this range to about 190 miles. Is it worth buying and will it gain traction in India and outside India?
India's car and EV market is a much cheaper market than the rest of the world. A $10,000 vehicle that is an EV is affordable by those in India. Tesla's vehicles, unfortunately, are not. With a population of around 1.4 billion, there is a large untapped market in India.
Tesla really needs to get its $30,000 hatchback and a Model 2 ready if it is going to tap into this market in India - otherwise, it might be too late. Tata Motors is known in India as a famous car brand and has built up trust with the Indian people. They have 3 EV car models that are affordable.
The most popular is the Tiago EV for $10,000.
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Tesla Needs Its Model 2
Tata probably won't want to stop with India and they are going to want to take this vehicle global. I don't think the $10,000 version will take off globally as the range is too short and the vehicle is not as safe as a Tesla. But a 200 mile range version for around $15,000 to $17,000 would do well with consumers, even in the U.S.
Tesla needs to get its smaller hatchback into production in order to beat out the new competition that is creating smaller and affordable EVs. These other companies are smart to make smaller and affordable EVs because that market is untapped and enormous.
Solar is doing very well in India with there being so much sun. People can charge EVs in India for much less than what it costs for gasoline powered cars. There is now a 4 month waiting list for this $10,000 EV, the Tiago EV.
Once people start to see how good these smaller EVs are, Tesla is going to have to respond with their own smaller version that has more features, is safer, and can operate as a Robotaxi. The question is, will Tesla respond to this, or continue down the path with their existing models?
Do you think Tesla should accelerate production of its Model 2 vehicle? Will these smaller EVs take more market share than Tesla?
For more information, see this video from The Electric Viking:
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.
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