Tesla Refunds Early India Bookings Signaling Entry Is Near

Tesla's India office is refunding early bookers of its Model 3, according to emails seen by Bloomberg News, sparking speculation the American electric vehicle maker is nearing a rollout in the world's third-largest automobile market. 

“We would like to return your reservation fee for the time being,” read the emails to customers who had made these bookings back in 2016. “When we finalise our offerings in India, we will reach out in the market again. We hope to see you back with us once we are ready to launch and deliver in your country.” 

The Elon Musk-led car maker is refunding the years-old bookings since the older generation of the Model 3 is being discontinued. The move suggests a clearing of the decks before new models are officially launched in India, following years of hesitation due to high import duties.

Adding to the signs of an imminent launch are new job postings on Tesla's careers page for a store manager, sales advisor and service manager in New Delhi, as well as a charging developer in Mumbai.

Days ago, Musk said in a post on X that he'll visit India later this year, at a time when India is negotiating a trade deal with the US, which may involve lowering tariffs on automobiles.

A more favorable tariff structure is likely to reshape Tesla's long-term plans. Its worldwide vehicle deliveries fell last year for the first time in more than a decade, as BYD Co. continues to pose a daunting challenge. 

An email to Tesla's APAC office wasn't immediately answered outside of business hours in India.

For India, Teslas on the streets would please its increasingly affluent upper-middle class population, but risks hurting domestic car makers that employ thousands of people in manufacturing plants.

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