New Delhi, India — If you’re a fan of the Tesla Model 3 and want to take advantage of India’s massive EV market, there are plenty of things you can do to get your hands on one, according to a report from TechRadars India.
There are more than 4,000 registered Model S vehicles in the country, which are used to sell more than 1,000 vehicles per month.
If all you have is the Model S, the monthly fee for a Model S is around Rs1,300.
The new model, introduced in 2016, offers a more spacious cabin and offers a higher price tag for its base model.
A new report by IHS Automotive estimates that an average new car sold in India will cost between Rs11,000 and Rs13,000.
While the premium of the Model 3 has increased to Rs10,000, it’s still far below the prices of some other cars in India, such as the BMW i3 and Mercedes-Benz S-Class.
In fact, the average price of an SUV sold in the last few months in India is around $28,000 , according to an IHS report.
IHS estimates that India’s EV market is expected to grow by about 25% to more than 300,000 units annually by 2020.
India is the second-largest market for EVs in the world after the United States, with a combined installed capacity of 1.6 million vehicles, according the IHS data.
More cars are coming to India.
In July, Tesla announced it would be expanding its fleet of Model 3s, starting with two new models to be sold in cities.
Earlier this month, the company also announced it will begin selling a larger fleet of the new Model S and Model X, starting from December.
And as the Model X and Model 3 have a smaller battery capacity than the current Model S lineup, Tesla is planning to add a third model, the Supercharger-equipped Model S Roadster, to its fleet, in the near future.