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Tesla enters India market, registers company in Bengaluru

Mangalore Today News Network

Bengaluru, Jan 13, 2021:     In a confirmation of Tesla entering India, the company has registered with the Registrar of Companies (RoC) as Tesla India Motors and Energy Private Limited. As per the RoC of the Ministry of Corporate Affairs, the company was incorporated in Bengaluru on January 8, 2021 and has three directors listed. The company has been incorporated as a ‘Subsidiary of Foreign Company’, which could be Tesla Inc.The company lists Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein as directors of the company.Taneja is the Chief Accounting Officer of Tesla.



According to CNBC-TV18, Tesla is in talks with five state governments -- Maharashtra, Gujarat, Andhra Pradesh, Karnataka and Tamil Nadu -- to explore setting up manufacturing, R&D centres and has hired a global consulting firm for the same.

A Karnataka government official told the business channel that the state is interested in inviting Tesla and has already given the company location options for different segments.

The report also states that the company, founded by Elon Musk, who is the second richest man in the world, will first launch its fully electric Model 3 Sedan in the country, which would be priced around Rs 60 lakh.

Nitin Gadkari, the Union Minister for Road Transport and Highways confirmed in December that Tesla is coming to India in early 2021 and will first start off with sales, and then look at assembly and manufacturing based on the response it receives.

This comes after Elon Musk himself said in October that the process to bring Tesla cars to India would begin in January 2021 in response to Tesla Club India asking if there is an India team working on the next year for sure scheduled Tesla entry.

Courtesy:The News Minute

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