Wednesday 27 January 2021
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Tesla officially enters India; sets up company in Bengaluru

Tesla India is likely to debut in the country with the Model 3 electric sedan, which will be completely built-up and imported to begin with

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Economy Business Tesla officially enters India; sets up company in Bengaluru

After all the rumours and speculations, Tesla has officially set its foot on the Indian soil. The American electric vehicle manufacturer has registered with the name — ‘Tesla India Motors and Energy Pvt Ltd’ with the Registrar of Companies at Bengaluru, Karnataka.

The data from the Ministry of Corporate Affairs shows Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein are the three directors of Tesla India. The incorporation date for the company is 8 January 2021 and the headquarters of the firm will be in Bengaluru.

Other details such as authorised and paid-up capital of Tesla India are listed at Rs 15,00,000 and Rs 1,00,000 respectively. 

Recently, Union Minister for Road Transport and Highways and the Minister of Micro, Small and Medium Enterprises Nitin Gadkari had said that Tesla would commence its operations by early 2021. He had said that the electric car maker company would initially begin with sales, which would eventually be followed by the establishment of research and manufacturing facility.

Tesla India is most likely to debut in the country with the Model 3 sedan which will take the CBU route — completely built-up and imported — at the beginning. The price for the EV is expected to be around Rs 55 to Rs 60 lakh (ex-showroom) and will be accompanied by its siblings in the future.

Tesla’s likely entry into India comes at a time when the union and state governments have been encouraging higher adoption of green vehicle technologies to help bring down the carbon footprint.

The development of the company forming a local subsidiary in India was reported by enthusiast Nikhil Chaudhary who manages the independent Tesla Club India account. Chaudhary said he has been keeping a track of the developments on the Ministry of Corporate Affairs website when the information showed up on 12 January afternoon.

In mid-2020, Tesla became the world’s most valued automobile firm by market capitalisation as demand for its electric cars and its shares shot through the roof. Its CEO Musk recently became the richest man on earth overtaking Amazon’s Jeff Bezos.

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