Finally, highly anticipated Tesla arrives in India!

Bengaluru, January 13: Marking its entry into the world one of the largest automobile industries, Elon Musk's electric vehicle major Tesla has registered a company in Karnataka's Bengaluru to start its operation with an R&D unit.

 

It has registered itself as the Tesla India Motors and Energy Private Limited with three directors. The directors include senior Tesla executives David Feinstein, Venkatrangam Sreeram, and Vaibhav Taneja. Taneja is presently Tesla's chief accounting officer.

 

 

According to the Registrar of Companies (RoC), the entity is registered as an unlisted private company with an authorised capital of Rs 15 lakh and a paid-up capital of Rs 1 lakh.

 

 

Following the entry the Karnataka Chief Minister B.S. Yediyurappa welcomed Chief Executive Elon Musk to the state.

 

Speaking about the development, Karnataka's Industries Minister Jagadish Shettar said that the officials led by the state's Principal Secretary are in constant dialogue with the company and that the state government is prepared to extend all kinds of support.

 

According to the reports the carmaker is in touch with as many as five state governments to set up R&D units in the country. Other than Karnataka, the automaker giant is in talks with the governments of Maharashtra, Gujarat, Andhra Pradesh, and Tamil Nadu.

 

Tesla's entry into the Indian market will give a major boost to the Indian economy. IT should be noted that this registration has come amid when India has also discovered its maiden Lithium resources in Karnataka''s Mandya. It has also come at that time when homegrown company Pravig is paving its way to launch India's luxury EV car.

 

Earlier, Union Minister for Road Transport and Highways Nitin Gadkari had also confirmed that the American electric vehicle company would be entering the Indian market in 2021 in a conversation during the Indian Express Idea Exchange program. Gadkari had said that Tesla is set to start its operations in India next year, adding that the company would also look at setting up a manufacturing unit based on demand.