In a move to tap the ever-emerging India automobile market, US electric car giant Tesla finally made the most-awaiting entry in the Indian market. Confirming the development, Karnataka’s incumbent Chief Minister BS Yediyurappa in a tweet welcomed CEO Elon Musk to their state.
His tweet also confirmed that the ace carmaker has set up an R&D unit by Lavelle Road, Bengaluru. Reportedly, Tesla registered a company named Tesla India Motors and Energy on January 8th in Bangalore. According to the Registrar of Companies (RoC), the new entity is classified as a subsidiary of a foreign company.
While it is still unknown if the company would start a manufacturing unit and carry on sales or just do research and development works, Tesla has also named Vibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein as three directors in the newly formed company in India.
On the other hand, sources close to Telsa confirmed that the company is also in touch with the state governments of Maharashtra, Gujarat, Andhra Pradesh and Tamil Nadu to set up operations in the country.