Tesla expects Indian buyers of Model Y to recoup one-third of price in 4-5 years

New Delhi: US electric-vehicle maker Tesla expects Indian consumers to recoup about one-third of the Model Y's 6 million rupee ($67,220) price tag in fuel and maintenance savings over the next 4 to 5 years, the company's India General Manager Sharad Agarwal said on Wednesday.

Tesla entered India in July and priced its Model Y about 70% higher than the cost of the car in the United States due to high taxes.

India has 100 per cent import tariffs on cars, which the firm's chief Elon Musk has called among the steepest in the world.

Indian customers can save around 2 million rupees while buying a Model Y in terms of maintenance and petrol costs, Agarwal said at an event in Gurugram city, neighbouring Delhi.

"Plus it has a high resale value. The cost of home charging is one tenth of petrol prices," he added.

($1 = 89.2575 Indian rupees)