Tesla, the American electric carmaker recently registered in India with the Registrar of companies at the Bengaluru branch. According to the Ministry of Corporate Affairs, the company has been registered as Tesla India Motors and Energy Private Ltd. Last month, Union Minister Nitin Gadkari had revealed that Tesla is all set to start its operations in India in 2021 and would also look forward to setting up a manufacturing unit on public demand. Also, Karanataka CM, B S Yediyurappa confirmed that the EV maker will start its operations with an R&D unit in Bengaluru. With that said, let's quickly take a look into the plans of Tesla in India. Tesla India Motors and Energy Private Ltd Incorporated in Bengaluru, Elon Musk's Company Makes First Move for India Launch.
Tesla India is a private company with an authorised capital of Rs 15,00,000 and a paid-up capital of Rs 1,00,000, as per the MCA filings. Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein are directors of the newly registered company. Feinstein is the Global Senior Director, Trade Market Access at Tesla whereas Taneja is the Chief Accounts Officer.
So why didn't Tesla entered in India before? Tesla had planned to enter in India in 2016 but it didn't happen. In 2018, Tesla CEO Elon Musk had revealed that due to India's challenging regulatory environment, the company couldn't enter the Indian market. Apart from Bengaluru, Tesla is reportedly conducting a location search for setting up their operations and has hired a consulting firm for the same. Governments of Andhra Pradesh, Gujarat, Maharashtra and Tamil Nadu have been in talks with the company to consider local partnerships for sourcing Tesla EV cars.
(The above story first appeared on LatestLY on Jan 13, 2021 11:32 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).