Tesla To Open Its First Subsidiary In Bengaluru

Elon Musk has just opened a subsidiary company of Tesla in India to tap into the country’s sustainable automobile market.

The subsidiary company is called Tesla India Motors and Energy Private Limited and it is in Bengaluru, Karnataka. It also registered an office on Lavelle Road in the city. According to the filing submitted to the Registrar of Companies, the subsidiary has ₹1 lakh paid-up capital and ₹15 lakh authorized capital.

The three newly-named directors of Tesla’s India entity are David Jon Feinstein, Vaibhav Taneja, and Venkatrangam Sreeram.

Karnataka government said earlier that Tesla planned for an R&D center and the company was had been offered space for whatever it intended to do, including a manufacturing plant.

In December last year, Nitin Gadkari - Union road transport and highways minister made public that Tesla would make its operation in India official this year, first with sales and then with the manufacturing of its electric cars.

Elon Musk's EV company makes its entry into India amid the longstanding effort of the state government and the union to encourage the use of more environmentally friendly vehicles to reduce carbon footprint.

In answer to the initiative, Uber, Vogo, Ola, and other mobility startups have laid down plans to include more electric vehicles into their fleets. Ola has also ventured into manufacturing as it set up an EV factory in Tamil Nadu.

Since Elon Musk has a huge influence in India and many other countries, Tesla has already had a head-start in the country.

According to Puneet Gupta, director of data analytics firm IHS Markit, the formation of one of Tesla’s subsidiary companies in India plays an important role in India’s EV industry in particular and the economy in general.

He also thinks Tesla might encourage other manufacturers and their suppliers to consider investing in India.

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