Tesla's dominance in the world is under threat. The sales figures of China's EV auto company BYD have come very close to Tesla. BYD has sold only 3400 vehicles less than Tesla in the last three months. The way Tesla's sales are falling, BYD will be the world's largest EV auto company in the coming months. In such a situation, Tesla's entry into a big market like India can increase the declining sales of Tesla.
India's auto segment is a big market. If Tesla enters India, China may get a big blow. Also, by staying on Indian soil, Tesla can increase its share not only in South Asia but in the whole of Asia. Let us first see and understand the figures in which Tesla's world supremacy is under threat.
BYD came very close to Tesla
There is a tremendous increase in the sales of China's EV auto company BYD. Because of which the throne of Elon Musk's Tesla has started shaking. In terms of sales, BYD has come so close to Tesla that it can leave it behind someday. Last quarter, BYD came remarkably close to overtaking Tesla in sales figures. The biggest reason for which is factory downtime. Due to which Tesla's deliveries witnessed the biggest decline in a year.
In the three months ended September 30, BYD's global sales were 431,603. This means that there has been an increase of 23 percent compared to the previous quarter. Whereas Tesla exported 435,059 cars worldwide during the same period. There was a difference of only 3,456 vehicles between the two companies, which is quite less. This figure may be exceeded in the coming few months. After which Tesla's dominance in the EV sector will end.
Can only India save Tesla's reign?
Now the biggest question is whether India can save Tesla's reign? According to experts, India is the fourth largest market in the world. The EV segment has just started in India. The biggest thing is that there is no entry of Chinese auto companies in India. In such a situation, Tesla has a great opportunity to establish itself in the world's fourth largest market. Anyway, Tesla is confident about its entry in India. Tesla has already discussed things with the Indian government. Tesla will also start a supply chain with its manufacturing unit in India. In such a situation, the market that Tesla has lost can be compensated in India.
Why is confidence being expressed in India?
When Apple turned towards India, the whole world saw how there has been an increase in everything from production to sales and supply chain. According to statistics, Apple's share in India's total exports is around 50 percent. After which global trust in India has increased significantly. This is the reason why Tesla also has high expectations from the Indian market. According to the estimates of the Economic Survey 2023, India's domestic electric vehicle market will see a growth of 49 percent between 2022 and 2030. By the year 2030, 10 million i.e. one crore vehicles will be sold annually. Apart from this, the electric vehicle industry will provide direct and indirect jobs to about 5 crore people by the year 2030.
Car can be worth Rs 20 lakh
The Reuters report came out in July. It was said in this report that Tesla will manufacture a low cost EV car worth 24 thousand dollars i.e. about 20 lakh rupees in its manufacturing unit in India. It has not yet been decided where Tesla will set up its manufacturing unit. Also, what will be its annual production? However, it is being speculated that Tesla's manufacturing unit can be started in India by the year 2024.
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