Tesla takes another step on road to launch in India

Tesla India Motors

According to a Reuters report, Tesla Motor India and Energy Private Limited have just been incorporated as of 8th January 2021.

The directors of the company are Vaibhav Taneja - Chief Accounting Officer, Venkatrangam Sreeram - a Bengaluru-based start-up entrepreneur and David Feinstein - Global Senior Director of Tesla. Other details such as authorised and paid-up capital are listed at Rs 15,00,000 and Rs 1,00,000 respectively. It is looking to set up operations and bring its affordable electric auto, Tesla Model 3, to India by June 2021. "I welcome Elon Musk to India and Karnataka and wish him all the very best".

Tesla Inc has moved a step closer to its launch in India later this year by registering a company in the country, a regulatory filing showed on Tuesday.

Tesla sales teams are now working on building custom sales and production orders for the India market, ensuring orders are complete and validated once the configuration is finished.

" The objects to be pursued by the company on its incorporation are to import, distribute, sell, service, maintain and fix electric vehicles and stationary energy storage systems and equipment, energy generation systems and equipment.and also, on an ancillary basis, to undertake all activities in relation to marketing, servicing and/or sales of each of the foregoing products", the filing stated. On several occasions earlier, Musk had revealed that he would like to bring Tesla to India, but in a 2018 Twitter post, he cited "some challenging government regulations" as a hurdle.

Recently, it came to light that the world's most valued automobile firm (by market cap) is set to launch its entry-level Model 3 sedan by June in India. "Would love to be in India".

In July previous year, he had hinted at allowing Tesla's Indian fans to drive an electric Model 3 "hopefully soon".

Still, India's carmarkers are increasingly looking to electric vehicles as a growth market.

Karnataka government has welcomed the move. Its first such overseas centre is in Shanghai where it has a Gigafactory to make electric cars.