India, Feb. 3 -- Tesla India has launched the Tesla EV Switch and Save Program, offering a flat exchange incentive of Rs.3 lakh to owners of petrol and diesel cars who trade in their vehicles for a Tesla Model Y. The company says the bonus is paid on top of the traded car's valuation and applies only to selected models and specifications. Deliveries must be completed before 31 March 2026 to qualify.

Tesla is also advertising an EMI plan for the Model Y: an EMI of Rs.49,000 with a down payment of Rs.6,00,000. The company describes this EMI as indicative and says final terms are subject to the financier's approval.

According to Tesla, a Model Y owner can save about Rs.20,000 per month on fuel and routine maintenance compared with petrol a...