Tesla Motors was founded in 2003 by engineers Martin Eberhard and Marc Tarpenning. The company was named after Nikola Tesla, the famous inventor, as a tribute to his contributions to electricity and innovation.

Tesla's entry into the Indian EV market faces significant challenges with established local players and global competitors like BYD considering manufacturing in India. BYD's potential move to set up a factory in Telangana could further shrink Tesla's prospects in a price-sensitive market.

Tesla trade-ins have reportedly hit a record high amid a brand crisis linked in part to CEO Elon Musk's involvement in the Trump administration. According to the Washington Post, Teslas made up 0.4% of all vehicles traded at traditional dealerships a year ago.