In September, Tesla and VinFast accounted for less than 0.5 per cent of all EV registrations.
IMAGE: Tesla Y LR Model. Photograph: Rajesh Karkera/Rediff
After months of anticipation surrounding their entry into India, global electric vehicle makers Tesla and VinFast have made a quiet debut, at least in terms of registrations on the government's Vahan portal.
Elon Musk's Tesla, which opened two company-owned showrooms -- one in Mumbai and the other in Delhi -- and began sales on July 15, registered just 69 vehicles in September.
In October so far, only 11 Teslas have been registered.
By comparison, total electric passenger car sales in September stood at 15,247 units, while 5,538 electric cars have been registered to date in October.
Tesla reportedly received orders for about 600 cars, even though its import quota for the year was set much higher -- around 2,500 vehicles.
The company launched its Model Y, priced between Rs 60.99 lakh and Rs 75.61 lakh on-road, depending on the variant.
That's nearly double its price in key markets: The Model Y sells for roughly Rs 35.3 lakh in the US and Rs 32.7 lakh in China.
Analysts say this steep price differential has been a significant drag on sales.
Vietnamese automaker VinFast also entered the Indian market recently with an aggressive pricing strategy.
The company began selling its VF 6 and VF 7 electric SUVs in September.
It registered just six vehicles that month but appears to have gained traction in October, with 39 registrations so far.
The VF 6, a compact five-seater SUV, starts at Rs 16.49 lakh, while the VF 7 is priced at Rs 20.89 lakh.
With these prices, VinFast is positioning itself directly against mass-market electric offerings such as the Tata Nexon EV (Rs 14.56-18.60 lakh) and the MG ZS EV (Rs 19-21 lakh).
VinFast has taken swift steps toward local manufacturing. The company recently inaugurated an EV production facility in Thoothukudi, Tamil Nadu, with an annual capacity of 50,000 units, scalable up to three times that number.
Tesla, by contrast, continues to import its vehicles from China and has yet to announce any plans to assemble or manufacture in India.
In September, Tesla and VinFast accounted for less than 0.5 per cent of all EV registrations. Their combined share has edged up to 0.9 per cent so far in October.
Still, Tesla's initial performance has outpaced Volvo, which registered only 30 electric vehicles across September and October.
Volvo's electric range, priced between Rs 41 lakh and Rs 59 lakh, overlaps with Tesla's Model Y, which faces stiff competition from rivals such as BYD's Sealion 7, Kia's EV6, and the Volvo XC40.
For now, Tata Motors continues to dominate India's electric passenger vehicle segment, followed by MG-JSW, Mahindra & Mahindra, BYD, and Kia Motors.