Chief Minister of Karnataka, B. S. Yediyurappa welcomed Telsa and Elon Musk to India on Twitter
Tesla’s arrival in India has been under speculation for last few years now. There have been multiple instances in the past when tweets from Elon Musk have suggested that Tesla is planning to venture into India, however, sadly nothing concrete ever happened.
Tesla’s Indian Subsidiary Officially Incorporated
Interestingly, in the past 3-4 months, speculation around Tesla’s entry into India had intensified again. Later, statements from Government also confirmed that Tesla is planning to set things up in India.
However, based on the past instances, most Indian Tesla fans have still been waiting for some concrete update. We are glad to share that as per a latest report, on 8th January 2021, Tesla has officially registered its Indian subsidiary. The company has been baptized as ‘TESLA INDIA MOTORS AND ENERGY PRIVATE LIMITED’. The development was first reported on twitter by Tesla Club India.
Company has registered its office at one of the most premium Institutional spaces in Bangalore, at the Skav 909 building. Highly likely that this building will also land up becoming Tesla India’s HQ in the near future.
Additionally, Tesla has also appointed 3 Directors for its Indian subsidiary. One of the director, David Jon Feinstein happens to be a Global Senior Director at Tesla. Vaibhav Taneja is currently the Chief Accounting Officer for Tesla has now been registered as a Director for Tesla’s Indian subsidiary. Vaibhav Taneja is of Indian origin and is a CA by profession.
The third director is Venkatrangam Sreeram, who doesn’t seem to have any past relation with Tesla. However, he is currently a board member for 2 other firms, Clearquote Technologies – an AI (Artificial Intelligence) firm which specializes in vehicle inspection and Xenon Automotive India – which is an automotive fleet and dealer management firm.
Based upon his past association and experience, it is safe to assume that Tesla would have on-boarded him for his unique exposure to both, the Indian market and latest automotive tech.
Confirmation from Karnataka CM
Apart from the confirmation regarding company’s incorporation, a latest tweet from Karnataka’s CM further has confirmed the official arrival of Tesla in India. B S Yediyurappa, CM of Karnataka, recently welcomed Elon Musk to India and has further stated that Tesla will be starting its operations out of Bangalore and also come up with a dedicated R&D unit.
Tesla’s First Product for India
Tesla is expected to bring in its entry-level Model 3 Sedan as the first product for India. Until and unless Tesla manages to crack a special deal with the Indian government regarding taxation and duties, the entry level Model S is expected to cost around INR 55-60 lakhs. The EV will come powered by a 60kw hour lithium ion battery which will have an overall range of 500km.