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Elon Musk’s Tesla All Set For India Launch; Registers Subsidiary In Bengaluru: Report


Tesla is in touch with five state governments in India and is now exploring the possibility of setting up manufacturing, R&D centres in the country, reports CNBC-TV 18.

The report added that Tesla is actively consulting Centre and state governments and is in the process of carrying out a location search for setting up operations. The electric vehicle (EV) manufacturing giant has hired a global consulting firm for the same.

According to a Registrar of Companies (RoC) filing, the new entity Tesla India Motors and Energy Private Limited is registered in Bengaluru, Karnataka, and is classified as a subsidiary of a foreign company. It has also registered its office in Lavelle Road, a business district in the southern city, with paid-up capital of 1 lakh and authorised capital of 15 lakh, according to the filing, reports Live Mint.

Tesla has named Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein as the three directors in the newly formed entity in the country, according to reports.

In December last year, Union Transport Minister Nitin Gadkari had announced that Tesla will be coming to India in early 2021. The company’s Model 3 will reportedly be the first model to enter the Indian market.

‘Elon Musk had also confirmed the entry of Tesla into the Indian market in 2021. Musk said, “Next year for sure” on Twitter in reply to a post with a photograph of a T-shirt with the message: “India wants Tesla”.

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