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Elon Musk-led Tesla finally enters India: First unit registered in Bengaluru

News24

LAST UPDATED: Jan. 13, 2021, 11:52 a.m.

New Delhi (Anish Yande): Tesla, the electric car maker and one of the leading automobile companies in India has taken its first step to launch in India. The electric carmaker has formalized plans for launching operations in India. The Indian subsidiary of US-based electric carmaker has been registered in Bengaluru. 

First unit of Tesla in India: 

The first Indian unit of Tesla has been noted on a filing on the Registrar on Companies website by the Ministry of Corporate Affairs. he newly incorporated firm, Tesla India Motors and Energy Private Limited is located at an address in Bengaluru. The subsidiary is registered at an address in Lavelle Road, Bengaluru.

Tesla, in a filing, stated that it had registered its Indian subsidiary on January 8th, 2021, at the Registrar of Companies in Bengaluru. The company has Rs 15 lakh as authorized capital and Rs 1 lakh as paid capital. The directors of the Indian subsidiary of Tesla are Vaibhav Taneja,  David Jon Feinstein, and Venkatrangam Sreeram. 

The authorized capital of Rs 15 lakh is separated into 150,000 equity shares divided into Rs 10 shares. David Jon Feinstein is a senior executive at Tesla. Feinstein would become the Global Senior Director of Tesla, and Vaibhav Taneja would be the Chief Accounting Officer. 

Indian ministers welcome Tesla into India:

 

Nitin Gadkari, the Union Road Transport and Highways Minister, had said earlier that Tesla would commence operations and sales in 2021.

The Chief Minister of Karnataka, BS Yediyurappa, sent out a tweet noting that the setting up of the Tesla plant in Bengaluru. The Chief Minister stated that the electric carmaker would be establishing research and development in Bengaluru.  The Research and Development unit to be launched in Bengaluru is the second facility outside the U.S.

In his tweet, CM Yediyurappa said that Karnataka would be leading India’s journey to Green Mobility.  ‘I welcome @elonmusk to India & Karnataka and wish him all the very best’, he tweeted. Tesla is also in talks with other Indian states such as Gujarat, Andhra Pradesh, Maharashtra, and Tamil Nadu. 

Image Credit: Google and Tesla 

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