Tesla subsidiary now in India |
The biggest name in the Electric vehicle segment, Tesla, has put its foot in India as it officially registered itself with the Registrar of Companies in India at Bengaluru. Tesla India Motors and Energy Private Ltd incorporated itself in India on 8th January. According to the filings, it is a private unlisted company with an authorized capital of Rs 1.5 million and a paid-up capital of Rs 1,00thousand. Chief Minister of Karnataka, BS Yediyurappa on 12th January said the electric-vehicle giant will start its operations with an R&D unit in Bengaluru. According to reports, Tesla is also searching for another location to set up its operations and has hired a global consulting firm for this. The governments of Maharashtra, Gujarat, Andhra Pradesh, Karnataka, and Tamil Nadu have had talks with the company and are also considering local partnerships for sourcing. All these states already have a thriving presence in the form of the auto-sector that includes major OEMs as well as component suppliers and vendor parks. On December 28, 2020, Indian Minister for Road Transport and Highways Nitin Gadkari had also said that the company will enter the Indian market in early 2021. Tesla will enter India with the Model 3 Sedan, expectedly priced at around 82 thousand and 35 dollars.
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