Tesla returns money to old booking holders to its initial customers in India

Tesla has begun to refund the booking amount to its initial customers in India. As per news reports, an email from the office of Tesla says that those who booked the Tesla Model 3 are being refunded the reservation fee. This development sparked speculations that the entry of Tesla in India is now highly imminent.

In an email sent to those who booked Model 3 in 2016, Tesla wrote, "We currently want to refund your reservation fee. We will contact you again when we finalize our offer in India. We hope you will join us again when we are ready for launch and delivery in your country."

Tesla has returned the money for old bookings because the company is now discontinuing the generation of Model 3 that was booked. Such emails have been sent directly from Tesla's domain, which clearly indicates that the company is preparing to start sales in India. It is worth noting that Tesla was hesitant about the high import duties in India for a long time, and due to this, the launch was getting postponed.

Just a few days ago, Tesla CEO Elon Musk posted on social media X that he would visit India later this year. At a time when talks are going on between India and the US on a trade deal, which may also include reducing taxes on cars, Musk's visit to India is considered even more important.

If the tax structure is really changed in favor of Tesla, then the company can greatly strengthen its long-term plans here. Anyway, Tesla's global delivery fell last year for the first time in a decade, while China's BYD company has rapidly emerged as a challenge.

If Tesla's cars start running on the roads of India, it will be a matter of great joy for the country's growing rich middle class. However, its other aspect is that it can increase pressure on domestic car companies, which employ thousands of people in their manufacturing plants.