As part of Tesla’s Switch and Save Carnival taking place from 23rd to 25th October 2026, the Model Y is being sold for an effective cost of only Rs.19,990 a month.
This comes with a deposit of Rs.6 Lakh and a 7-year step-up EMI at an APR of 8.5%.
However, there is some nuance to this. The true EMI will start from Rs.39,990. Tesla takes into account fuel and servicing savings of around Rs.20,000 a month compared to a standard petrol or diesel vehicle to get to an effective cost of Rs.19,990 per month. On top of this you also get a free Tesla Wall Connector.
How the effective cost has been calculated
The EMI advertised by Tesla is actually calculated as follows:
Cost Type Cost
Base EMI (7-year step-up) Rs.39,990
Fuel Savings -Rs.20,000
Effective Monthly Cost Rs.19,990
The fuel savings have been estimated using the following:
Model Y energy consumption – 14.3kWh/100km
Energy cost – Rs.7 per kWh
Comparative vehicle – 8km/l
Service cost – Rs.2 per km
So your bank account will see a deduction of Rs.39,990. The savings have been estimated by Tesla using their assumptions of your driving habits and fuel.
What you get from the carnival
The following will be provided during the 3-day Switch and Save Carnival:
Free Tesla Wall Connector
Trade-in Valuation for your current petrol/diesel car
Vehicle financing on site with Tesla’s preferred partners
Test drive the Model Y and Model Y L
Compare your running costs ICE vs EV
The wall connector is a great perk as you’ll be able to charge your car overnight at home. This would have cost extra.
Model Y Variants Available in India
There are two variants of the Model Y available in India:
Model Seats Base Price Range (WLTP) 0-100km/h
Model Y Premium RWD 5 Rs.50.89 Lakh –
Model Y L 6 Rs.61.99 Lakh Up to 681km 4.5seconds
The Model Y L is the 6-seater variant which has a larger battery and therefore increased range. Recently it received a free acceleration boost meaning it can go from 0-100km/h in 4.5 seconds.
Why Tesla is doing this
The Switch and Save carnival is targeted at people who currently own a petrol or diesel vehicle and are looking to switch to electric. It allows them to see the difference they would make financially by switching to a Model Y.
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Key reasons to switch:
No oil changes
No spark plug changes
No multi-speed servicing
Less brake pads due to regenerative braking
OTA updates so no need to visit the garage
These are all key reasons why Tesla are providing the effective cost of Rs.19,990 per month. They argue that while EVs have a higher EMI they are cheaper to run in the long run.
Where to take part
The Switch and Save carnival will be available at 7 Tesla Centres:
Noida
Delhi
Gurugram
Chennai
Hyderabad
Bengaluru
Mumbai
Tesla also have approved centres in Pune and Ahmedabad. You will be able to book test drives of the 2026 Model Y Premium Rear Wheel Drive and 6-seater Model Y L via the Tesla India website or customer number.
Should you take up the offer?
This effective cost of Rs.19,990 will depend largely on your driving habits and fuel.
You should consider it if:
You drive a lot (save more on fuel)
You have a petrol/diesel car to trade-in
You can afford the Rs.6 Lakh deposit
You want a home charging point
You may not want to consider it if:
You don’t drive much (don’t save as much on fuel)
You don’t have a car to trade-in
You can’t afford the Rs.6 Lakh deposit
You want a lower EMI.
Comparing with other EVs:
Model Base Price Effective Monthly Cost
Tesla Model Y Rs.50.89 Lakh Rs.19,990 (Save)
Tata Nexon EV Rs.12.29 Lakh Lower
MG ZS EV Rs.18.98 Lakh Lower
Hyundai Creta Electric Rs.18.90 Lakh Lower
While it is a lot more expensive than other EVs available in India, it provides a premium experience with increased range and access to the Supercharger network.
Tesla Charging Network in India
Currently Tesla have 20 Supercharger stalls and 28 Destination Charger stalls. By the end of 2026 they will have 3 additional locations.
This will be very important for Model Y owners, especially those who drive long distances.
The Tesla Switch and Save Carnival makes the Model Y more affordable for Indian customers. However, you should be aware that the cost of Rs.19,990 is an effective cost once the savings have been taken into consideration.
The true EMI will start from Rs.39,990 with a 7-year step-up at a 8.5% APR. The free wall connector and trade-in valuations provide great value but you should calculate your own fuel and servicing savings.
If you drive a lot then this could be a great option if you want a premium electric SUV. However, if you aren’t prepared to pay such a high price then you may look at other EVs available in India such as the Tata Nexon EV or MG ZS EV.
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