What's the story Tesla is gearing up to launch its first showrooms in India as early as mid-July, according to Bloomberg News. The move marks the start of formal operations for Elon Musk's electric vehicle (EV) giant in the world's third-largest automobile market. The company's first batch of cars, Model Y rear-wheel drive SUVs from its China factory, has already arrived in India. Showroom details Tesla's challenges in India The premium price tag of the Model Y will be a major hurdle for Tesla as it will have to convince value-driven consumers to shell out more. EVs account for just over 5% of new passenger vehicle sales in India, but premium cars still represent less than 2% of the market, data from the Indian government's vehicle registration portal shows. Despite this challenge, Tesla is pushing ahead with its plans and has been hiring across charging, retail, and policy teams. Facebook