Tesla to enter India
Tesla Inc. has decided to set up a subsidiary in Bengaluru ahead of a planned introduction of its electric cars in India this year. Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein have been named as the three directors of Tesla India Motors and Energy Pvt. Ltd. The state of Karnataka had also said that
“We have been interacting with Tesla for the last few months, and it is happy news that it has decided to incorporate its company here. We have impressed upon them that Bengaluru is not only the technology capital but also the aerospace and space capital. For any kind of technology collaboration, it has the right kind of talent pool,” stated Gaurav Gupta, State Principal Secretary for Commerce and Industries.
“Tesla is considered one of the most aspirational brands across the globe, and the formation of its subsidiary is quite significant for India’s economy and its nascent EV industry. This can be an inflexion point for electric mobility in India and might convince many prospective customers to consider buying an EV in the future. Also, an investment from Tesla might convince other leading vehicle manufacturers and their component suppliers to invest in India for development of EV and related parts,” Puneet Gupta, director, IHS Markit, commented on this development.