Fisker.Inc is making its move to enter the Indian market and Tesla is nowhere in sight
American electric car company – Fisker is opening its India headquarters in Hyderabad. Fisker is yet to sell a single car in the market around the world but many see the upcoming brand as a Tesla rival.
Why Tesla is not bringing its car to India
Should Tesla be worried?
For a long time, Tesla has locked horns with the Indian government to get a tax cut for selling its fully imported models in the Indian market. But, the federal government has resisted the tax cuts by saying that Tesla needs to set up a factory in India and the same tax rules will be applicable to the American electric car maker in India.
Tesla wants to sell cars in India but the Indian government levies more than 100% tax on fully imported vehicles. It increases the cost of the Tesla cars by more than double the original price.
Why Tesla is not opening a factory in India?
Tesla has a Gigafactory in Shanghai, China
There are two major reasons for this. The first is Tesla operates a Giga factory in Shanghai, China. It is one of the biggest Giga factories and the plant has enough potential to feed the local market and export units to the neighbouring markets like India.
The second reason is Tesla is not very sure about the popularity of electric cars in India. There is no significant charging infrastructure in the country and Tesla does not want to be a niche car seller that is only bought by a few rich customers.
And Tesla has been asking for import duty cut from the Indian government
Tesla wants to reach the mass-segment market and for the same, it wants to know how successful the electric cars will be in the Indian market. Tesla wants the tax rebate so that the imported electric cars cost almost the same as they cost in the international markets. However, that is not happening anytime soon.
How is Fisker taking advantage of the situation?
Fisker will soon open its headquarter in Hyderabad India
The California-based Fisker Inc will set up its India headquarters in Hyderabad. The HQ will be a development bed for the brand and it will be used for software and virtual vehicle development as well.
Fisker has started recruiting in India and currently, there are 200 posts for the local talent in India. The Hyderabad office of Fisker will work in tandem with the Fisker engineering and product development facilities in California.
Fisker to manufacture cars in India
The brand plans to manufacture cars in India as well
Manufacturer of iPhone – Foxconn will manufacture cars for Fisker in India. While details of the production are not out yet, Fisker has signed a contract with Foxconn to sell cars in North America, Europe, China and India.
If Fisker starts making cars in India, it will get an extremely aggressive price tag, which will put Tesla in a spot.
We have analysed the situation of both the manufactures in detail and you can read by SWIPING UP!
The plans are on the paper at the moment but given the size of India and the rising popularity of electric cars, Fisker has kept the country on its top lists.
But Fisker is yet to start production
Fisker is yet to produce its first car anywhere around the world. The brand says that the first production model will come out by the end of this year. The first Fisker model – the Ocean will come out of the Magna Steyr’s factory in Graz, Austria. Whereas Tesla has multiple Giga factories around the world that produces thousands of units every single day. However, if Fisker can crack the Indian market with low priced models, it can be a big step up for the brand. India currently has one of the largest populations and the government is also promoting electric cars in the country.
Who do you think will be more successful in the Indian market? Fisker or Tesla? Do let us know your thoughts in the comments below.
Keyword: Can Fisker Beat Tesla In Bringing An EV To India First?