Siddharth Jain, the Executive Director of the Inox Group, has been making headlines ever since he bought a Tesla Model Y. He became one of the first business leaders in India to own Tesla’s latest EV model. Notably, it's not only a personal milestone but a significant boost to the Indian EV market.
Jain’s milestone also marks Tesla’s official entry into the Indian market, following the launch of the Model Y. Siddharth shared his excitement on X (formerly Twitter) by posting images of his brand-new car, and within two days, he received a reply from none other than Tesla CEO Elon Musk.
On September 15, the Inox group Executive Director took delivery of his stealth grey Tesla Model Y. He shared his excitement with his followers on X (formerly Twitter), stating, “I have been waiting for this precious moment ever since I visited the Tesla Fremont factory in 2017! Dreams do come true!”
He even wrote that he owns “India Inc's first Tesla.” Jain shared his images with his brand new car and dedicated those moments to the Tesla CEO, Elon Musk.
Jain’s acquisition has attracted significant attention from Indian EV enthusiasts. As a prominent figure in the Indian business community, his purchase of a Tesla Model Y may inspire other corporate leaders to follow a similar path.
Under Jain’s leadership, the Inox group has shown interest in various sectors, including industrial gases, entertainment, and renewable energy, positioning him as a prominent figure in promoting green technologies.
On Wednesday, September 17, Tesla CEO Elon Musk responded to Jain’s announcement, saying, “Congrats!” on his X (formerly Twitter) account. The answer is brief, but this one-word response shows Musk’s recognition of Jain’s achievement. More broadly, the Tesla CEO acknowledged the company’s presence in India.
While Jain is the first from India Inc to have a Tesla Model Y, he is not the first individual to own the EV model. Earlier this month, Maharashtra Transport Minister Pratap Sarnaik purchased the first Tesla Model Y.
Presently, Tesla has two showrooms in India. The first one was opened in mid-July at the Bandra Kurla Complex in Mumbai, followed by the second one at Indira Gandhi International Airport in New Delhi.
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Jain’s acquisition of a Tesla Model Y marks a substantial step in the company’s effort to establish a stronghold in the Indian market. The Musk-led company has been struggling to make a bigger global presence despite high import taxes and an underdeveloped EV infrastructure.
However, the success of Tesla in India still depends on several factors. The most important among them include a well-built charging infrastructure, government incentives for EVs, and consumer awareness. While the initial reaction seems positive, sustained growth requires strategic investments and collaborations with local stakeholders. With continued support and development, Tesla has the potential to shape the future of transportation in India.