This industry bigwig takes home the country’s first Tesla for India Inc

Businessman Siddharth Jain on Monday said that he has taken delivery of what he calls India Inc’s first Tesla, marking a milestone moment for corporate India.

Jain, who is the Executive Director of INOX, also called his purchase of Tesla's Y model as a 'dream come true' moment for him.

Sharing his excitement on X (formerly Twitter), Jain posted, “This one’s for you @ElonMusk !!! I am beyond thrilled to receive India Inc’s 1st @Tesla ! I have been waiting for this precious moment ever since I visited the Tesla Fremont factory in 2017! Dreams do come true!”



The announcement quickly drew attention online, with users congratulating Jain.

Earlier, Maharashtra Transport Minister Pratap Sarnaik had taken delivery of India’s first Tesla Model Y, which he called a gift for his grandson and a way to inspire youth towards electric mobility. “Even if the cost is slightly higher today, what matters more is setting the right example and accelerating EV adoption,” Sarnaik said, adding that Maharashtra has rolled out incentives such as toll exemptions on Atal Setu and the Samruddhi Expressway, while the state transport body has procured about 5,000 electric buses.

The development comes as Tesla’s India entry has fallen short of the hype that preceded it. Since opening bookings in mid-July, the company has secured just over 600 orders, Bloomberg reported on September 2. Tesla now expects to ship between 350 and 500 vehicles to India this year, with the first consignment arriving from Shanghai earlier this month. Deliveries will initially be limited to Mumbai, Delhi, Pune and Gurugram.

Tesla had earlier aimed to utilise its full quota of 2,500 cars this year, but high import duties, which push the price of its entry-level Model Y above ₹60 lakh, have dampened demand in a market where the average EV sells for about ₹22 lakh. Within the premium bracket, just 2,800 units priced between ₹45 lakh and ₹70 lakh were sold in the first half of 2025. Chinese rival BYD has fared better, selling over 1,200 units of its Sealion 7 SUV in the same period, helped by a lower starting price of ₹49 lakh.

Beyond pricing, Tesla also faces hurdles on trade negotiations. Hopes of tariff relief have dimmed amid geopolitical tensions, and while showrooms have drawn interest, it has not yet translated into significant sales. Still, the company is pressing ahead by setting up charging stations in Mumbai and Delhi and planning a new experience centre in South India next year, according to Bloomberg.