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Tesla Inc. (TSLA) Stock: India Entry, Robotaxis, Norway Surge Amid Political Headwinds
Tesla Inc. (TSLA) stock surged amid a tumultuous week for the electric vehicle manufacturer as the company makes its first formal entry into the world’s third-largest auto market in India and extends its robotaxi service to Austin, Texas, while simultaneously defying European slump by posting record-breaking sales in Norway.
In a move that underscores Tesla’s relentless pursuit of global expansion, the company announced it will host a launch event on July 15th, marking its entry into the Indian market. This marks a significant shift in the company’s strategy as it brings around $1 million worth of merchandise and vehicles, including six Model Y units and several Superchargers from China and the U.S., to India.
The company is also pushing forward with robotaxi expansion in Austin, while integrating AI chatbot Grok into its vehicle lineup. This new addition is a testament to CEO Elon Musk’s long-standing vision for autonomous mobility. However, this push comes at a time of brand volatility, fueled by political actions and social media outbursts.
Notably, Tesla’s sales in Norway jumped 54% year-over-year in June, driven by the popularity of its Model Y registrations, which soared 115.3%. The company’s strong performance in the world’s most EV-friendly market contrasts sharply with a broader European slump, as seen in Germany and France, where sales dropped by 60%.
As Elon Musk continues to steer the company towards a more diversified product portfolio, Tesla’s India debut is expected to bring significant growth opportunities for the automaker.
Source: coincentral.com
