Tesla nears 1,000 India registrations in 2026; ₹86-crore equity infusion backs

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Tesla has registered 220 electric cars in India through October 26, overtaking Mercedes-Benz in registrations

By Amit Vijay Mohile

Updated - October 27, 2026 at 08:40 PM.

Tesla’s retail presence now extends across Mumbai, Delhi, Gurugram, Noida, Chennai, Bengaluru and Hyderabad | Photo Credit: Dado Ruvic

Tesla is approaching 1,000 vehicle registrations in India in 2026, gaining ground against established luxury electric-car manufacturers as it expands its retail and service network.

The Elon Musk-led carmaker recorded 990 registrations between January 1 and October 26, according to Vahan data compiled by Flash Finance, narrowing the gap with Mercedes-Benz while remaining well behind market leader BMW.

Mercedes-Benz registered approximately 1,369 electric cars and BMW 4,014 during the same period. Tesla’s cumulative tally is equivalent to roughly 72 per cent of Mercedes-Benz’s registrations and one-quarter of BMW’s, signalling its growing presence in India’s luxury electric-vehicle market.

The momentum was more pronounced in October. Tesla recorded 220 registrations through October 26, overtaking Mercedes-Benz’s 47, although BMW remained ahead with 349. The provisional figures cover electric cars alone, rather than the manufacturers’ overall passenger-vehicle sales.

From a low base

During January–September, Tesla’s registrations increased from 69 in 2025 to 770 in 2026, an increase of approximately 1,016 per cent. The comparison reflects a low base, with customer deliveries beginning only in September last year.

Tesla’s retail presence now extends across Mumbai, Delhi, Gurugram, Noida, Chennai, Bengaluru and Hyderabad. Its Noida experience centre adds a third customer location in the National Capital Region, expanding access to test drives and sales consultations.

The Model Y starts at ₹50.89 lakh following a ₹9 lakh price reduction, while the six-seat Model Y L starts at ₹61.99 lakh. The lower entry price and wider product offering could help Tesla attract premium SUV buyers.

Fresh capital for India

The expansion comes as Tesla’s overseas shareholders infused approximately ₹86 crore in fresh equity during FY26, according to regulatory filings reported in the media.

Tesla International BV contributed ₹85.91 crore, while Tesla Motors Netherlands BV invested ₹8.6 lakh, increasing the equity capital of Tesla India Motors and Energy from ₹50 crore to approximately ₹136 crore, a rise of 172 per cent.

Expenditure on property, plant and equipment and capital work-in-progress increased from ₹1.16 crore to ₹62.54 crore, reflecting investment in its Indian operations. However, the filings cited in published reports do not establish how the fresh equity was allocated.

Profitability under scrutiny

Tesla’s Indian subsidiary remained profitable during FY26. Net profit increased from ₹55.49 lakh in FY25 to ₹5.16 crore, an increase of approximately 830 per cent, while revenue from operations rose from ₹20.83 crore to ₹247.31 crore, an increase of 1,087.3 per cent.

However, FY26 was its first financial year with vehicle-sales revenue, against services-only turnover in the preceding year, limiting direct comparisons.

Despite the earnings growth, net profit as a proportion of operating revenue narrowed from approximately 2.7 per cent to 2.1 per cent. Employee expenses reached ₹43.67 crore and rent ₹30.32 crore, highlighting the cost of establishing its Indian operations.

With registrations approaching 1,000, Tesla’s next challenge will be translating growing vehicle volumes into stronger profitability while supporting its expanding retail and service footprint.

Published on October 27, 2026

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