Briefly analyse the SLEPT factors that Tesla needs to consider before entering Indian market?
Tesla Inc
Tesla Inc., formerly known as Tesla Motors Inc., designs, develops, manufactures, and sells electric vehicles and stationary energy storage products. It operates primarily in the United States, China, Norway and internationally. The company is headquartered in Palo Alto, California.
Tesla’s mission is to accelerate the world’s transition to sustainable energy. Founded in 2003, Tesla has broken new barriers in developing high-performance automobiles that the world’s best and highest-selling pure electric vehicles with long-range and absolutely no tailpipe emissions. It is also the safest, highest-rated cars on the road in the world.With the launch of the Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage, and grid services.
Geographic Expansion
A majority of Tesla’s revenues are generated in the United States (up to 60% in 2016). The company’s domestic market has renewed efforts to expand internationally, aiming to tap rising transnational demand for electric vehicles (EVs). Tesla targets European and Asian markets, to diversify its revenue streams. Tesla now has 438 Tesla Motors Stores throughout the world and almost 100 service centres.
Tesla’s new Shanghai Gigafactory was constructed in just 168 days with capacity of roughly 150,000 models per year. China is the largest automobile market on the planet, despite growing fears of a slow-down in the industry. Until 2019, China required foreign carmakers to link up with domestic ones to manufacture in the country, making Tesla the first company to take advantage of this, while also avoiding a 25% import duty. Tesla has also constructed a factory in Germany.
Tesla Motors’ CEO Elon Musk, revealed the company’s plan to expand its market beyond North America, China, and Europe in 2018. In a tweet following that, CEO of Tesla Motors stated that he is hopeful to expand his presence to regions like India, Africa, and South America by the end of 2019.
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Briefly analyse the SLEPT factors that Tesla needs to consider before entering Indian market?
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