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Tesla Inc. (TSLA) Stock: India Entry, Robotaxis, Norway Surge Amid Political Headwinds
In a surprising turn of events, electric vehicle giant Tesla Inc. (TSLA) has announced its formal entry into the world’s third-largest auto market, India, as well as an expansion of robotaxi services and record-breaking sales in Norway. Despite these positive developments, the company’s brand faces significant backlash amid CEO Elon Musk’s ongoing political controversy.
The electric vehicle giant will open its first showroom in Mumbai on July 15, marking a crucial step towards formal entry into the Indian market. This move comes as a strategic shift for Tesla, which initially delayed its entry due to import duties of up to 70%. Meanwhile, the company is also expanding its robotaxi services in Austin and integrating AI-powered chatbot Grok into Tesla vehicles.
On a more positive note, Tesla has defied European sales slump by reporting a massive 54% year-over-year surge in Norway. The country’s pro-electric vehicle environment has driven demand, fueled by incentives like VAT exemptions and home charging access. This contrast starkly with significant declines reported in Germany and France.
These developments come amid ongoing controversy surrounding Elon Musk’s involvement in politics and social media outbursts. Despite the negativity, it is crucial for investors to stay up-to-date on these market-moving announcements.
Source: coincentral.com
