Tesla Motors finally in India, registered as Tesla India Motors.
Key sentence:
- Union Minister Nitin Gadkari stated last month that Tesla is expected to launch the business in the country in 2021.
- Auto major Tata Motors refused to tie up with the firm for its India venture earlier on Tuesday.
- The government of Maharashtra said that it was looking for prospective investments in the state from Tesla.
Amid signs that the company is expected to join the country’s automotive market, American electric car manufacturer Tesla has licensed its Indian arm.
Tesla an Authorized Company of India:
The company has registered Tesla India Motors and Energy Pvt Ltd through RoC Bangalore, as per a legal filing. The company was registered with a term of investment of 1 lakh as an unlisted private entity.
Tata Motors denied tying up with Tesla:
As per the Registrar of Companies (RoC) filing, Vaibhav Taneja, Venkatrangam Sreeram as well as David Jon Feinstein were named as directors of Tesla India.
Union Minister Nitin Gadkari stated last month that Tesla is expected to launch the business in the country in 2021 and also would looking at setting up a demand-based manufacturing plant.
Auto major Tata Motors refused to tie up with the firm for its India venture earlier on Tuesday.
The firm said in a regulatory filing, “Tata Motors has not taken any decision regarding a strategic partnership for its PV business including categorically denies any and all rumours indicating the same.
As Elon Musk Tesla CEO stated:
Tesla CEO Elon Musk says, “Yes. Next year for sure” in November previous year, referring to a Twitter user who asked about the success of the company’s India projects.
Musk had, though, tweeted too much about Tesla’sentrance into India in the past.
In 2019, Musk said that he “would love to be there this year. If it’s not, possibly next!”
Musk cited the difficult regulatory climate of the country in 2018 as being among the reasons for not delving into India.
Maharashtra a home to a host of domestic and foreign automobile manufacturers:
Earlier, the government of Maharashtra said that it was looking for prospective investments in the state from Tesla as well as held interactions with the firm.
A host of domestic as well as international automotive manufacturers are already located in Maharashtra, with the Chakan industrial belts near Pune becoming a significant automobile centre.
