Final decision likely from Tesla’s insurance team in Hong Kong or Singapore, say sources.
Tesla’s India Entry Sparks Insurance Race Among Top Indian Insurers
Elon Musk’s electric vehicle giant Tesla has officially entered the Indian market, but beyond the buzz around its cars, a key question looms—who will insure Tesla vehicles in India?
Acko Leads the Race, But Competition Heats Up
According to sources, Acko has emerged as Tesla’s preferred insurer in India. However, Bajaj Allianz and ICICI Lombard are also actively vying for partnerships, seeking to offer insurance solutions for Tesla’s premium electric vehicles.
Talks are still in the early stages, and no formal agreements have been signed yet. Insiders reveal that the insurers are pushing for non-exclusive tie-ups, allowing Tesla customers to have multiple insurance options.
Regulatory Approvals Still Pending
Before any official tie-ups can be finalised, Tesla must obtain a motor insurance service provider licence from the Insurance Regulatory and Development Authority of India (IRDAI). This process is expected to take a few months. Only after securing the licence can Tesla sign definitive agreements with Indian insurance firms.
Comments from Bajaj Allianz and ICICI Lombard are awaited.
Tesla Launches Model Y in India
Tesla marked its long-awaited India debut on Tuesday with the launch of its Model Y, priced from ₹59.89 lakh. The company has also opened its first experience centre in Mumbai.
The Model Y, a mid-sized electric SUV, will be imported as completely built units (CBU) from Tesla’s Shanghai Gigafactory.
Two variants will be available:
- Rear-Wheel Drive – Base price ₹59.89 lakh
- Long-Range Rear-Wheel Drive – Base price ₹67.89 lakh
Deliveries are expected in the third and fourth quarters of 2025, respectively.
Initially, Tesla will roll out registration and delivery in Delhi, Mumbai, and Gurugram. Customers can also customize their Model Y’s exterior, interior, and features through the Tesla Design Studio.
What’s Next?
While Tesla has taken a major step into India’s EV market, insurance partnerships and regulatory approvals remain key hurdles before the brand can fully operationalize its ecosystem.
At a Glance: Tesla’s India Insurance & Launch
- Acko is Tesla’s preferred insurer; Bajaj Allianz & ICICI Lombard also in talks
- Insurance tie-ups still in early stages; decision may come from Hong Kong/Singapore offices
- Tesla must first get IRDAI licence, which could take a few months
- Model Y launched in India starting at ₹59.89 lakh
- Deliveries to start Q3 & Q4 2025 in Delhi, Mumbai, Gurugram
- First Tesla experience centre opened in Mumbai
