US electric carmaker giant Tesla entered India and registered as a company in Bengaluru, a hub for many global technology companies. Tesla India Motors and Energy Private Limited has been incorporated and the registered address is in Lavelle Road, Bengaluru.
Announcing the entry, Karnataka chief minister BS Yediyurappa tweeted: “Karnataka will lead India’s journey towards Green Mobility. Electric Vehicle Manufacturer Tesla will soon start its operations in India with an R&D unit in Bengaluru. I welcome Elon Musk to India and Karnataka and wish him all the very best.”
“Tesla registered its Indian subsidiary with the Registrar of Companies (RoC) in Bengaluru on January 8, with Rs 15 lakh authorised capital and Rs 1 lakh paid-up capital. Tesla India Motors and Energy Ltd has been opened in the city centre, with Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinsteinas its directors,” said the company in its filing with the Registrar of Companies.
Taneja is Tesla’s chief accounting officer while Feinstein is the senior director, global trade and new markets, at Tesla. Sreeram is also a director in Xenon Automotive India Ltd since April 2014 and Clearquote Technologies India Ltd since August 2020.
According to sources, company is also in touch with as many as five state governments to set up operations in the country. The states the company is in talks with are Maharashtra, Gujarat, Andhra Pradesh and Tamil Nadu.
Kiran Mazumdar-Shaw, chairperson of Biocon Ltd, tweeted:
“Tesla Makes India Entry, BS Yediyurappa Welcomes Elon Musk To Karnataka – thrilled to welcome you to Bengaluru n Karnataka- the land of technology n innovation and EVs.”
Elon Musk had also confirmed the entry of Tesla into the Indian market in 2021. Last year, Musk said, “Next year for sure” on Twitter in reply to a post with a photograph of a T-shirt with the message: “India wants Tesla”.
Earlier in December, Union transport minister Nitin Gadkari too had announced Tesla’s arrival in India. Gadkari had said that the Tesla Model 3 would be launched first in India.
Model 3, the cheapest among Tesla vehicles, with prices starting at roughly ₹ 55 lakh, will be the first model to be launched, according to a report. The bookings will apparently start in January, the report said.
Tesla CEO Elon Musk has recently become the wealthiest individual in the world overtaking Amazon Inc. founder Jeff Bezos.
Tesla’s entry into India comes at a time when Prime Minister Narendra Modi is increasingly focusing to promote the use of electric vehicle.