Tesla In India: Bajaj And ICICI Lombard Eye Tie-Ups As Preferred Insurer Race Picks Pace — Profit Exclusive
Tesla has already selected Acko and Liberty General Insurance as its preferred insurers in India.
As the race for Tesla's India insurance partners picks pace, listed players Bajaj Finserv Ltd. and ICICI Lombard General Insurance Co. are also pushing for a slice of the pie.
Bajaj Allianz and ICICI Lombard are discussing insurance partnerships with Tesla, which are said to be in early stages with the terms not being finalised yet, three people aware of the matter told NDTV Profit.
Both the companies are pitching non-exclusive tie-ups with the Musk-led electric vehicle maker, which is seeing a good demand in its India sales since the launch of its first showroom in India on Tuesday, one of the people quoted above said.
Tesla, however, has already selected Acko and Liberty General Insurance as its preferred insurers in India. Any decisions the company takes on additional insurers will be decided by the company's insurance departments working out of Hong Kong or Singapore, the second person said on the condition of anonymity.
Tesla's push for pacts with India insurers depends on a Motor Insurance Service Provider license that will come from the Insurance Regulatory and Development Authority of India.
An MISP license allows automobile dealers to distribute and service motor insurance policies for vehicles sold through them. It essentially acts as a bridge between the insurer and the customer, providing a single point of contact for insurance needs related to the vehicle.
It will take another month or two for Tesla to get the MISP license, after which it can onboard more insurance partners, the third person mentioned above told NDTV Profit.
NDTV Profit has reached out to Bajaj Allianz and ICICI Lombard for comments on the story.
ALSO READ
Tesla's Finally In India, But Its Wonder Car Won't Be A Tarzan Anytime Soon — Profit Exclusive
Tesla's newly launched showroom in Mumbai's business district has been seeing heavy footfall from buyers across India. The showroom has locked multiple deals, and the deliveries will begin after September 2025. Test drives for the cars will begin once the company meets internal compliances and enough orders are stacked up, the second person mentioned in the story said.
The showroom features the Model Y, which has been priced at Rs 61,07,190 on-road in Mumbai.
The top speed is pencilled in at 201 kmph and the vehicle can hit 100 kmph in 5.9 secs. The range of the vehicle is 500 km.
It is available in white and black interiors for the Indian market. The car will be available in six colours — Stealth Grey, Pearl White, Diamond Black, Glacier Blue, Ultra Red and Quick Silver. The pricing of the vehicle, as per the norm, will differ from colour to colour.
