Sandip Sabharwal on Tesla’s India entry: M&M still a strong bet
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Despite concerns over Tesla’s entry into the Indian market, analysts believe that leading domestic automakers like Mahindra & Mahindra remain well-positioned to thrive. Speaking in an interaction with ET Now, market expert Sandip Sabharwal of asksandipsabharwal.com dismissed fears surrounding Tesla’s impact on Indian companies, calling the recent sell-off in auto stocks exaggerated and irrational. Sabharwal pointed out that homegrown auto giants like Mahindra & Mahindra (M&M) continue to enjoy strong demand, despite concerns over Tesla’s entry. “The sell-off in these stocks started just a day after Mahindra’s new models received over Rs 8,000 crore in demand in a single day, which is completely irrational,” he noted. Tesla has announced its plans to set up a manufacturing facility in India, benefiting from duty concessions on its first 8,000 units if it commits to an investment of Rs 4,500 crore. While this has triggered nervo...