Finally, electric vehicle (EV) maker Tesla has found its way to India, as Billionaire Elon Musk’s Tesla has opened its India entity, an R&D center in Bengaluru. However, in the earlier days, the state Government had already confirmed the arrival of Tesla in the country.
The new entity is named Tesla India Motors and Energy Private Limited, in Bengaluru, Karnataka, and is classified as a foreign company subsidiary. According to the report, Tesla has also registered its office in Lavelle Road with an authorized capital of ₹15 lakh and a paid-up capital of ₹1 lakh. Apart from it, Tesla has finalized three directors for its newly formed entity in India: Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein.
The principal secretary, commerce & industries of Karnataka Gaurav Gupta said, “We have been interacting with Tesla for the last few months and it is a happy news that they have decided to incorporate their company here. We have impressed upon them that Bengaluru is not only the technology capital but also the aerospace and space capital. For any kind of technology collaboration, it has the right kind of talent pool,”
He further added, “How they want to enter and take it forward is left to their judgment. Hopefully, this will lead to the sales office, research and further developments as necessary,”.
Nitin Gadkari, Union road transport and highways minister earlier said that from the beginning of the year, Tesla will begin its operations, that is mainly assembling, manufacturing, and finally selling off its electric cars. As of now, Tesla has not revealed that much regarding its Indian electric cars.
A highly populated country, and that’s why highly polluted, there the adoption of green vehicle technologies is definitely going to be a great step through the hands of Tesla. Cabs from different companies (Ola, Uber) have been a needed thing in our daily lives, especially after COVID-19, to avoid crowds of public transports. If, in the future, Tesla makes some affordable electric vehicles and cab companies start to use them daily, pollution and the expense of normal people both will get reduced.
The director of IHS Markit (a data analytics firm) Uneet Gupta said, “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. This can be an inflection point for electric mobility in India and might convince many prospective customers to consider buying an EV in the future. Also, an investment from Tesla might convince other leading vehicle manufacturers and their component suppliers to invest in India for the development of EV and related parts,”