New Delhi, Feb. 22 -- As Tesla is soon planning to enter in India, even after the reduction in the import duty to below 20 per cent, the cheapest car of Tesla will cost around Rs 35 to 40 lakh, says a report by CLSA, a global capital market company.

The report highlighted that currently, Tesla's cheapest Model 3 in the U.S. costs around USD 35,000 (approx. Rs 30.4 lakh) at the factory level. With an expected reduction in import duties to 15-20 per cent in India, along with additional costs such as road tax and insurance, the on-road price would still be around USD 40,000, or approximately Rs 35-40 lakh.

It said "The cheapest Model 3 for Tesla in the US is c.USD35k. With tariff lowered to c.15- 20 per cent in India, along with road tax, ...