Tesla India Motors and Energy Private Ltd Incorporated in Bengaluru, Elon Musk's Company Makes First Move for India Launch

New Delhi, January 12: American electric car major Tesla has officially registered with the Registrar of Companies in India, a report by CNBC-TV18 informed. The information was also shared by a Twitter handle named @TeslaClubIndia terming it as 'breaking' news. Reports inform that on January 8, Tesla India Motors and Energy Private Ltd incorporated itself in Bengaluru. The information was also shared by a Twitter handle named @TeslaClubIndia terming it as 'breaking news'. The tweet informs that Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein are directors of the incorporated entity.

In December 2020, Union Minister Nitin Gadkari had said that Tesla is set to start its operations in India in 2021 and would also look at setting up a manufacturing unit based on demand. "American auto major Tesla will have its distribution facility (sale centres) for its cars in India from next year and considering the demand it would look into setting up of manufacturing here. India has the potential to become the largest EV (electric vehicle) producer in the world in the next five years," Gadkari had said. Tesla to Start Operations in India by Early 2021; Model 3 to be Launched by June Next Year: Reports.

BREAKING : @Tesla has been incorporated in Karnataka, India on January 8, 2021 as "TESLA INDIA MOTORS AND ENERGY PRIVATE LIMITED"🇮🇳.

Company also lists 3 Directors for India.

It's happening!!

Welcome @elonmusk , we are waiting for official launch⚡#TeslaIndia🇮🇳 #TCIN pic.twitter.com/a5mMY5P84s

— Tesla Club India® #TeslaIndia🇮🇳 (@TeslaClubIN) January 12, 2021

Gadkari has been pushing for green fuel and electric vehicles for cutting India's huge Rs 8 lakh crore crude imports. Tesla Inc. co-founder and chief executive Elon Musk had in October said the company will enter the Indian market in 2021.

Earlier, Musk had proclaimed that he wants to increase Tesla's vehicle sales volume from about 5,00,000 in 2020 to 20 million annually over the next decade. In 2020, Tesla had delivered 4,99,550 vehicles, which was slightly missing its most recent guidance of 5,00,000 vehicles. Reports inform that in the fourth quarter, Tesla delivered 1,61,650 Model 3 and Model Y cars and produced 1,63,660 such vehicles.

(The above story first appeared on LatestLY on Jan 12, 2021 08:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).