Tesla Enters Indian Market With Showroom Openings, Model Y Launch in July

Tesla Inc. (NASDAQ:TSLA) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Tesla announced that the company is set to enter the Indian automobile market, with its first showrooms expected to open in July this year. The initial launch will see showrooms in Mumbai, anticipated by mid-July, followed by another in New Delhi.

The move marks an expansion for Tesla into the world’s third-largest automobile market, particularly as the company seeks new avenues for growth amid declining sales in Europe and China. The first batch of Tesla vehicles for the Indian market has already arrived, which consists of Model Y rear-wheel drive SUVs shipped from Tesla’s factory in Shanghai, China. The Model Y is globally recognized as the best-selling electric car.

Accompanying the vehicles, Tesla has also imported Supercharger components, car accessories, merchandise, and spare parts from the US, China, and the Netherlands to support its Indian operations. The company has secured showroom spaces in premium business districts, with one location finalized in Mumbai’s Maker Maxity at Bandra Kurla Complex/BKC and another in New Delhi’s Aerocity area.

Tesla Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells electric vehicles, along with energy generation and storage systems.

While we acknowledge the potential of TSLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.