Tesla sets up India subsidiary in Bengaluru
"Entry of Tesla into India comes at a time when the union and state governments have encouraged greater adoption of green vehicle technology to help lower the carbon footprint."
As the Cupertino-based electric vehicle (EV) manufacturer eyes a slice of the largely untapped domestic sustainable automotive market, Tesla has registered its affiliate business in India.
The new firm, Tesla India Motors and Energy Private Limited, is registered in Bengaluru, Karnataka and is listed as a branch of a foreign company, according to the Registrar of Companies (RoC) filing. It also has its registered office in Lavelle Lane, a business district in the southern region.
The state government had previously said that Tesla would open a research and development (R&D) center in Bengaluru.
The probable entry of Tesla into India comes at a time when the union and state governments have encouraged greater adoption of green vehicle technology to help lower the carbon footprint.
Among others, mobility start-ups such as Ola, Uber, Bounce and Vogo have set goals to include more EVs in their respective fleets.
Ola, the company headquartered in Bengaluru, has also ventured into production as it has set up a two-million two-wheeler EV plant at a cost of ~ 2400 crore in Tamil Nadu. Other large companies such as Mahindra, Hero and Hyundai and startups such as Ather are going forward with their respective plans to capture a higher share of India's emerging EV market.
In India and abroad, Elon Musk, who recently took over Amazon Inc's founder Jeff Bezos as the wealthiest person in the world, also enjoys a status that has contributed to the increasing demand for Tesla and its products.
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