Tesla’s plans in India are beginning to take shape. Tesla will begin operations in India early next year, the Indian Express reported.
The country’s transport minister, Nitin Gadkari, said Tesla will start with sales and then may consider assembly and manufacturing based on the response.
Tesla may begin with selling the more-affordable Model 3 in India. While bookings could start in a few weeks, deliveries are not expected before the second half of 2021.
This isn’t the first time Tesla has expressed plans to sell its vehicles in India. In 2016, the company took about 1,000 bookings for its vehicles. But potential buyers have been left waiting for years.
In 2017, Musk said the cars would arrive in India by summer. But that deadline came and went without deliveries. Musk blamed regulations requiring 30% of parts to be locally made and said the parts were not available.
Other roadblocks include India’s delays in making significant investments in infrastructure like charging stations, even as the country is eager to reduce oil dependency and pollution.
Tesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products.
The Company operates through two segments: Automotive, and Energy generation and storage.
The Automotive segment includes the design, development, manufacturing, and sales of electric vehicles.
The Energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers.
The Company produces and distributes two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). It also offers Model 3, a sedan designed for the mass market.
It develops energy storage products for use in homes, commercial facilities and utility sites.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 728.02.
The projected lower bound is: 607.96.
The projected closing price is: 667.99.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 56.2940. This is not an overbought or oversold reading. The last signal was a sell 3 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 63.14. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 1.920 at 663.690. Volume was 44% below average (neutral) and Bollinger Bands were 13% narrower than normal.
Open High Low Close Volume 674.510 681.400 660.800 663.690 32,278,560
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 650.84 518.22 323.60 Volatility: 70 71 103 Volume: 61,598,036 44,253,608 68,413,576
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
TESLA INC is currently 105.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 26 periods.