Tesla Nabs India Business License - Stock Surges? | IE

Cornelia Mascio
Gennaio 13, 2021

American electric carmaker Tesla will be starting a research and development centre in Bengaluru.

In addition to the newest developments, Tesla also named three directors for its forthcoming Indian subsidiary - which will be both an electric auto and energy storage firm.

The company has been registered with an authorised capital of ₹15 lakh and a paid-up capital of ₹1 lakh.

The unit named Tesla India Motors and Energy Private Ltd was incorporated in Bengaluru on January 8, and Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein have been named as directors, according to disclosures with the corporate affairs ministry.

In an RoC (Registration of Company) document accessed by Autocar Professional, Tesla has registered its office in Bangalore.

Earlier in the day, it was reported that Tesla is in talks with five state governments to commence operations in India.

Musk had, however, in the past too tweeted about Tesla's entry into India.In 2019, replying to a Twitter query, Musk had said he "would love to be there this year". Maharashtra is already home to a host of domestic and foreign automobile manufacturers, with the Chakan industrial belt near Pune being a major automobile hub.

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