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In India, Tesla is returning Model 3 booking payments, which could indicate a change in the company’s approach to entering new markets.
With the older Model 3 version being phased out globally, Tesla is refunding those early deposits.
In India, Tesla has started paying back early booking holders of its Model 3, some of whom made deposits as early as 2016.
This strategic move has heightened rumours that the electric vehicle behemoth is preparing for a big market entry into the most populous country in the world, rather than indicating a retreat.
Several Indians who made deposits for the Model 3 about ten years ago have had to wait an incredibly long time.
According to Bloomberg News, these early adopters, who were among the first in their nation to embrace Tesla’s vision, are now getting calls and emails informing them that their reservations are being cancelled, mostly because the Model 3 configuration they originally reserved is no longer available.
“We would like to return your reservation fee for the time being,” read the emails sent to consumers who made these bookings in 2016, as reported by Bloomberg News. “When we finalise our offerings in India, we will reach out to the market again. We hope to see you back with us once we are ready to launch and deliver in your country,” the emails further read.
Since the previous generation of the Model 3 is being phased out, the Elon Musk-led automaker is returning bookings from years ago. The emails, which were received from Tesla domains, are the most recent indication that the carmaker, after years of protesting its high import taxes, intends to begin selling in the South Asian country, Bloomberg News adds.
Musk stated a few days ago in a post on X (previously Twitter) that he will visit India later this year when the country is negotiating a trade agreement with the US that might include a reduction in vehicle tariffs.
Tesla may change its long-term intentions in response to a more favourable tariff structure. For the first time in over ten years, its global vehicle deliveries decreased last year as the formidable challenge of BYD Co., a Chinese multinational manufacturing company, remains.
The presence of Teslas on Indian streets might appeal to the country’s growing upper-middle class, but it also runs the danger of harming domestic carmakers, who employ thousands of people in their factories.
