Jindal Warns Elon Musk, Says Tesla’s India Dream Won’t Be a Walk in the Park

JSW Group chairman Sajjan Jindal said Tesla CEO Elon Musk’s journey to succeed in India will not be an easy road. Speaking at the Ernst & Young Entrepreneur of the Year awards on Wednesday, the chairman of the steel-to-cement conglomerate said Musk can achieve what he has in America under Trump’s shadow but to do the same in India is not possible especially because the country has giants like Tata Motors and Mahindra & Mahindra. 

“Elon Musk is not here. He is in the US. We Indians are here. He cannot produce what Mahindra can do, what Tata can do—it’s not possible. He can do (it) under Trump’s shadow, in the US...But to be successful in India is not an easy job,” the JSW Group chairman told CNBCTV18News.

Also Read: India Inc's EV Play Continues to Face the Chinese Dilemma

India Inc Gears Up to Face Musk 

This comes at a time when Tesla boss is making strides to enter Indian electric vehicles (EV) market. Tesla has recently leased a 4,003-square-foot showroom in a prime location in Mumbai’s Bandra Kurla Complex (BKC) for five years. According to the Financial Times, the global EV maker is soon going to finalise a showroom in Delhi as well. 

Besides this, Indian giants are also gearing up to face Elon Musk’s EV heat. In fact, according to an Economic Times earlier report, the JSW Group is eyeing to enter the electric cars and e-trucks segment in collaboration with Chinese giants like Geely and BYD. The steel-to-cement conglomerate is expected to roll out its final plans this year under its new division, JSW Green Mobility, launched in 2023. Apart from this, the group already has a joint venture worth $1.5 billion with China’s SAIC Motor to manufacture and sell MG electric vehicles (EVs) aligning with the government’s ‘Make in India’ initiative. 

Also Read: JSW to Power Up EV Manufacturing, Eyes Partnership with Chinese Giants Like Geely, BYD

Moreover, to boost EV sales, Tata Motors has started offering an exchange bonus of up to Rs 50,000 and financing options covering 100% of the on-road price with zero down payment to attract customers, according to ET. On purchase of Nexon EV or Curvv EV, the company is offering six months complimentary access to Tata Power’s charging network and a free home charger installation to boost sales.