According to Bernstein analysts, Tesla has not signed up for India’s new EV policy, which offers a lower 15% duty for vehicles over $35,000 in exchange for a commitment to local manufacturing.

Tesla’s long-awaited India debut comes as the government considers lowering EV import duties in a U.S. trade deal.

Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

Tesla (TSLA) shares are drawing attention on Friday after the automaker confirmed plans of opening its first showroom in Mumbai, India on July 15. Tesla vehicles sold in India will be imported from the company’s giga factories located in Shanghai and Berlin as the EV maker doesn’t currently have a manufacturing facility in India.

Shares of Tata Technologies, Rallis India, Tejas Networks, and Tata Motors move on earnings, deal outlook, and sector cues. Tesla showroom launch in Mumbai also drives auto focus.

Tesla stock plunged nearly 8% after Elon Musk launched the American Party, sending shockwaves through Wall Street. The stock, once flying high at over $488 in December after Trumps re-election, has now dropped 35%,

Tesla opened its first showroom in India this week as the EV maker looks to expand as sales decline in other regions Key Takeaways. Anot