Tesla, the world’s most valued car marker, has registered its India subsidiary and set up a corporate office in Bengaluru, Karnataka. This new development has happened in the backdrop of Road Transport & Highways minister Nitin Gadkari’s recent announcement of Tesla’s plans to entering the Indian market in early 2021. The subsidiary registered in India as Tesla India Motors And Energy Private Limited with Bangaluru Lavelle Road registration address.
Tesla Club India, a fan handle on Twitter, first broke the news. The Indian subsidiary company lists 3 directors including David Jon Feinstein who is Global Senior Director at Tesla.
Viabhav Taneja who is Chief Accounting Officer at Tesla is also named as one of the directors at Indian setup. The third director is Venkatgangam Sreeram who is a Bangaluru-based serial entrepreneur with a prior connection with Tesla.
From Tesla fans to people in power, all have been eagerly waiting for the world’s biggest electric car maker in India. Probably in that excitement, Karnataka Chief Minister BS Yediyurappa’s social team posted a welcome for Tesla chief Elon Musk revealing the electric vehicle giant’s plan to set up a research and development (R&D) unit in Bengaluru. Though, soon the tweet was deleted.
Tesla’s entry is a boon for electric vehicles in India
For sustainable mobility, electric vehicles hold the key as they will help nations cut down on carbon footprint. The government seems to already have a plan in place to push electric vehicles in the country and is also hoping to make India a global hub for EVs manufacturing in this post-pandemic world.
In the annual budget of the year 2019, the government opened up the automobile industry for foreign direct investment up to 100 percent. Since then rumors have been making rounds on Tesla’s entry in India. Now that world’s leading electric mobility company is set to make a formal entry into India, it will set to create a rippling effect in the Industry.
Tesla’s entry will bring the necessary eyeballs to EV space which is essential for the public drive towards EVs. Tesla with a strong brand image and proven worldwide record can accelerate public adoption.
Existing automakers are warming up to the idea of all-electric machines, but they still lag far behind similar to Tesla in terms of cutting-edge proprietary technology such as high capacity battery, supercharger, car automation, and more.
Tesla usually prefers to setup Gigafactories in countries or regions where it operates. While it has already commenced work on setting up an R&D center in India, it is likely to open up a Gigafactory in the country as well. This will certainly make costly Tesla cars slightly easy on the customer’s bank account. This will also open up doors for India to make EVs for the world.