The world’s most valuable carmaker, Tesla has launched its Indian Subsidiary as it is preparing to create a much-awaited plant for manufacturing and R&D units in the country. Two units- Tesla India Motors and Energy Private Ltd. were incorporated in Bengaluru on January 8. As per the disclosures with the corporate affairs ministry, three people named Venkatrangam Sreeram, David Jon Feinstein, and Vaibhav Taneja are named as directors.
As per the reports, Tesla shall not set the manufacturing plant initially in India. Tesla’s China factory would work as the primary sourcing point initially. After there would be a visible demand, Tesla might start assembling vehicles in India.
This will be a private unlisted company with an authorized capital of Rs 15, 00,000 and a paid-up capital of Rs 1,00,000. There were reports that Tesla is in talks with 5 state governments, to start the operations in India. Even local partnerships will be considered by the government of Maharashtra, Gujarat, Karnataka, Andhra Pradesh, and Tamil Nadu.
The government of Karnataka has already proposed a list of locations, in which Tumkur is one of the proposed sites, where Tesla could set up its manufacturing facility. In 2020 itself, Elon Musk had given hints on the company entering India in 2021.
There was a post on Twitter with a photograph of a T-shirt which read the message – “India wants Tesla”, to which Elon had replied- “Next year for sure”.