Tesla opens India subsidiary

Tesla registers India office in Bangalore, to start operations with R&D unit

In addition to the newest developments, Tesla also named three directors for its forthcoming Indian subsidiary - which will be both an electric vehicle and energy storage firm. Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein are listed as Directors of the incorporated entity.

As per the CNBC TV18 report, Karnataka has offered various locations as well solutions to the company for helping them in setting up manufacturing facility in the state.

"Karnataka will lead India's journey towards Green Mobility".

Union road transport and highways minister Nitin Gadkari said in December that Tesla will begin its operations in India early this year with sales, and later venture into assembly and manufacturing of electric cars.

Earlier in the day, it was reported that Tesla is in talks with five state governments to commence operations in India.

Musk had, however, in the past too tweeted about Tesla's entry into India.

Musk, who recently became the wealthiest individual in the world overtaking Amazon Inc. founder Jeff Bezos, also enjoys a cult-figure like status in India as he does overseas, adding to the growing demand for Tesla and its products. Reacting to a tweet by Tesla Club India, Musk said: "Will release order configurator probably in Jan". "Next year for sure", Musk said on Twitter replying to a post with a photograph of a T-shirt with the message: "India wants Tesla". "Would love to be in India".

In 2018, Musk had cited the country's challenging regulatory environment as among the reasons for not foraying into India.

Besides electric vehicles, the US-based clean energy firm makes battery storage from home to grid-scale, solar panels and solar roof tiles.

"Tesla is considered one of the most aspirational brands across the globe, and the formation of its subsidiary is quite significant for India's economy and its nascent EV industry".

The tech-savvy Karnataka is the first state in the country to have an electric vehicle policy to woo investments in the sunrise sector.



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