Saturday, 23 January, 2021


Tesla gears up to launch in India

Tesla Grabs India Business License Stock Surges Six Percent Chris Liverani Tesla
Conrad Doyle | 13 January, 2021, 08:48

"We have been interacting with Tesla for the last few months, and it is happy news that it has chose to incorporate its company here".

The state had earlier said Tesla would open a research and development (R&D) centre in Bengaluru and that it had offered space for any other plans the company may have, including a factory.

In addition to the newest developments, Tesla also named three directors for its forthcoming Indian subsidiary - which will be both an electric vehicle and energy storage firm. According to the details available on the Registrar of Companies website, Tesla India Motors and Energy Private Limited has been incorporated and the registered address is in Lavelle Road, Bengaluru.

The company has been registered with an authorised capital of ₹15 lakh and a paid-up capital of ₹1 lakh. The governments of Maharashtra, Gujarat, Andhra Pradesh, Karnataka, and Tamil Nadu have had talks with the company who are also considering local partnerships.

Of the newly incorporated entity, Vaibhav Taneja, Tesla's Chief Accounting Officer and David Feinstein, Senior Director, Global Trade and New Markets at Tesla are named as directors. This can be an inflection point for electric mobility in India and might convince many prospective customers to consider buying an EV in the future. "Tesla setting up its office in the state is a welcome step".

In October last year, Musk, who overtook Amazon founder Jeff Bezos as the world's richest man with a whopping $195 billion net worth last week, had said that the electric vehicle maker is finally ready to enter the India market next year. "Next year for sure", Musk said on Twitter replying to a post with a photograph of a T-shirt with the message: "India wants Tesla".

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