Tesla to set up electric car manufacturing unit in Karnataka
15 Feb 2021 12:26:51
New Delhi, February 14: After entering into the Indian Automobile industry, United States automaker giant Tesla is going to set an electric car manufacturing unit in the state of Karnataka, Chief Minister BS Yediyurappa said.
"American firm Tesla will set up the car-manufacturing unit in Karnataka," the Chief Minister said. The chief minister further announced that an industrial corridor would be developed in Tumakuru with an investment of Rs 7,725 crore creating 2.8 lakh jobs. Hailing the Union Budget presented recently as historic, Yediyurappa said it would pave the way for a USD five- trillion economy by 2025.
On January 8, Tesla registered its subsidiary Tesla India Motors and Energy Private Limited and listed three directors for the company. It was incorporated in Bengaluru and its directors are Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein. Taneja is the Chief accounting officer of Tesla.
It should be noted, India is Asia’s third-biggest economy and the country is also pushing itself to become the largest EV (electric vehicle) producer in the world in the next five years. The entry of Tesla in India comes at a time when the government is increasing its focus on the use of EVs. The choice of Bengaluru as the location to set-up the manufacturing firm is also considered to be strategic.
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