Tesla All Set For India Launch; Registers Indian Subsidiary In Karnataka

Darnell Taylor
January 13, 2021

The other two directors are Venkatrangam Sreeram - who is now a director for two auto companies, Xenon and ClearQuote, which deals with automated vehicle inspections, Teslarati reports.

It is a private unlisted company with an authorized capital of Rs 15,00,000 and a paid-up capital of Rs 1,00,000. The company was added to the MCA database as an LLP on January 8 of 2021, with the Indian Government allocating physical space for Tesla's early operations in the country. Earlier in 2020, Tesla's Chief Executive Officer (CEO) Elon Musk hinted at the company entering India in 2021.

As per the CNBC TV18 report, Karnataka has offered various locations as well solutions to the company for helping them in setting up manufacturing facility in the state. This announcement officially marks Tesla's India entry in the state of Karnataka. 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.

Tesla is also in touch with other state governments like Maharashtra, Gujarat, Tamil Nadu and Andhra Pradesh to start its India operations.

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The move will also open India to select as one of the countries where Tesla cars can be purchased.

In October last year, Musk, who overtook Amazon founder Jeff Bezos as the world's richest man with a whopping $195 billion net worth last week, had said that the electric vehicle maker is finally ready to enter the India market next year.

Tesla officials had held talks with the Karnataka government in September a year ago for opening its research facility in this tech hub. "Next year for sure", Musk said on Twitter replying to a post with a photograph of a T-shirt with the message: "India wants Tesla".

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