Tesla ( TSLA) officially launched in India on Tuesday, making a small bet on a country with massive growth potential.

With its sales cratering in the West, the electric vehicle giant is making a high-stakes pivot to the world's third-largest auto market.

According to Bernstein analysts, Tesla has not signed up for India’s new EV policy, which offers a lower 15% duty for vehicles over $35,000 in exchange for a commitment to local manufacturing.

While the average price of a car sold in India is $13,000, Tesla Inc. (NASDAQ: TSLA) will sell its Model Y there for about $69,770, according to Reuters. India is the world’s fourth-largest car market.

Tesla Inc. TSLA is set to hit the Indian roads soon with the Union transport ministry approving four of its models for production or import in the country.Four vehicle variants of Tesla passed ...

Global electric vehicle giant Tesla is set to make its long-awaited India debut on Tuesday, with the launch of its flagship Model Y SUV expected to headline the occasion. The American automaker has locked in Mumbai’s upscale Bandra Kurla Complex (BKC) as the location for its first showroom in the country,