Testing A Tesla: Angel Broking's Dinesh Thakkar On What Will Make It An Attractive Buy

There's a special kind of love between this man and his machines, especially when the machines boast high horsepower and resounding revvs. Dinesh Thakkar, the managing director of Angel Broking, is not only a market expert, but he's also a connoisseur of performance cars, with a garage that backs this passion.

From pushing a McLaren 750S — the sole 60-year edition in India, to its limits, to eagerly awaiting a Tesla that can break the two-second 0-100 km/h barrier, Thakkar's insights blend cars, technology and India's zooming consumption.

Thakkar, noted Tesla's innovation, believes the electric vehicle giant's approach to the Indian market has been somewhat "half-hearted." He praises Tesla's ground-up engineering, calling their cars "a computer on wheels" due to their pure EV functionality and integrated dashboard technology.

However, did not hide his disappointment suggesting the investment is insufficient for a market as vast as India. "India is a big market so investment of $500 million, and Indian-ising their components is something Tesla should have done," Thakkar noted.

The current import duty of 110% on Tesla makes their price point high for the mass market, a segment Thakkar believes Tesla ultimately aims to capture. He argues that a price point around Rs 40 lakh would be more appropriate for the Indian consumer.

"Tesla is looking to play the masses and not just thousands, I think. And if they want to do that, they have to bite the bullet and go beyond," he said, highlighting the growth potential in India's EV sector given its low base, growing consumer interest, and expanding charging infrastructure.

His personal interest in Tesla is reserved for the "Roadster," a model he'd buy if it truly delivers on its promise of sub-2-second 0-100 km/h acceleration and over 1000 horsepower.

Beyond electric vehicles, Thakkar notes that India's consumption boom is spurred by recent tax cuts, advising brands targeting India to focus on the next 20 to 25 years and focus on the High Net Worth Individuals or HNIs and emerging HNIs. Brands like Tesla, he noted, are well-positioned to bank on the big growth numbers of these HNIs.

Regarding the US-India trade deal, Thakkar anticipates a limited impact on exports, but acknowledges a potential slowdown in India's GDP. However, he views this as a temporary hurdle.

"The bad news will be behind us and we can focus on corporate earnings. Uncertainty should be behind investors who have a long horizon," he said.

Thakkar attributes the market's current resilience to the strong participation of retail investors, and their investments that will help keep the market steady. He expects a general pickup across the economy in a few quarters, with a pipeline of IPOs creating jobs and the rise in promoters who are willing to dilute, signaling more vibrancy in the primary market.