esla has rolled out a new customer-friendly initiative in India called the ‘Switch and Save’ exchange programme, aimed at encouraging owners of petrol and diesel vehicles to transition to electric mobility. Under this scheme, buyers can avail significant financial benefits when exchanging their internal combustion engine (ICE) vehicles for the Tesla Model Y.
₹3 Lakh Exchange Incentive
As part of the programme, Tesla is offering an exchange bonus of ₹3 lakh on the Model Y for customers who trade in their existing ICE cars. This incentive is applicable only through Tesla’s official exchange channels and is valid on Model Y deliveries made until March 31.
The move is expected to make Tesla’s electric SUV more accessible, especially for buyers who have been hesitant due to higher upfront costs.
Additional Bonus Through Spinny
To further enhance the deal, Tesla has partnered with used-car marketplace Spinny, which is providing an additional exchange bonus of up to ₹25,000. This applies to customers who exchange their petrol or diesel vehicles through Spinny’s platform.
With this combined benefit, buyers can save up to ₹3.25 lakh, making the transition to electric vehicles more affordable.
New 7-Year Finance Scheme
Alongside the exchange programme, Tesla has also introduced a new 7-year financing plan for the Model Y. Under this scheme:
- Down payment starts at ₹6 lakh
- Monthly EMI is approximately ₹49,000
- Loan tenure extends up to 7 years
This financing option is designed to reduce the financial burden on buyers and attract a wider customer base.
Encouraging EV Adoption
Tesla’s ‘Switch and Save’ initiative reflects its broader strategy to boost electric vehicle adoption in India. By combining exchange incentives with flexible financing, the company aims to make premium EV ownership more attainable.
The programme also supports the government’s push toward cleaner mobility by encouraging drivers to move away from conventional fuel-powered vehicles.
Limited-Time Offer
It is important to note that these benefits are time-bound and apply only to Model Y deliveries completed by March 31. Interested buyers are advised to complete their bookings and exchange process within this period to take full advantage of the offers.
Conclusion
With a ₹3 lakh exchange bonus, an extra ₹25,000 benefit via Spinny, and an easy 7-year finance scheme, Tesla’s ‘Switch and Save’ programme significantly improves the affordability of the Model Y in India. The initiative is likely to attract first-time EV buyers as well as existing car owners looking to make the switch to sustainable mobility.
