The wait is nearly over as American electric carmaker Tesla is all set to set-up operations in India and zeroed down on Karnataka, as its preferred state to set-up its headquarters. The electric auto giant has registered its Indian subsidiary under the name ‘Tesla India Motors and Energy Private Ltd’, which was incorporated in Bengaluru on January 8, 2021. The company is expected to commence operations by June this year and the first product to be made available will be the Model 3 sedan, according to reports.
According to the document filed with the Ministry of Corporate Affairs, Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein have been named as directors. The company has been registered as a private unlisted company with an authorized capital of ₹ 15,00,000 and a paid-up capital of ₹ 100,000. The document also reiterates Tesla co-founder and CEO, Elon Musk’s tweet last year that said the automaker would enter India “next year for sure.
India has been on Tesla’s radar since 2016 but plans did not materialize despite a number of speculations. It was also reported recently that state governments including Maharashtra, Andhra Pradesh, Tamil Nadu, and Karnataka had talks with the automaker to set-up operations in their region, while the company is also considering local partnerships. Reportedly, the Karnataka government has already offered a land parcel to Tesla in Tumkur, on the outskirts of Bengaluru, to set-up a manufacturing facility.