Tesla shares, July 16 -- Elon Musk-backed Tesla finally made its way into the Indian market, with the opening of its first store in Mumbai, in a bid to tap new markets amid slowing sales in the established ones. Tesla launched its Model Y with a starting price of nearly $70,000 ( Rs.) in the world's third-largest car market.

Tesla Model Y India bookings are open with a starting price of Rs.60 lakh, while the longer range variant is priced at Rs.68 lakh, Tesla's website showed.

The cost of Tesla cars in India is much higher than that in the US, even without a federal tax credit - largely due to India's 70% to 110% tariffs on imported cars that Musk has long criticised, according to media reports.

With the launch of Model Y in India, Tes...