After years of wait, Tesla fans in India have cause to rejoice: The company has finally incorporated its India arm, with the registration of Tesla India Motors and Energy Private Limited with the Registrar of Companies.
On January 8, the company was incorporated as a Subsidiary of Foreign Company, as per the Ministry of Corporate Affairs website.
BREAKING : @Tesla has been incorporated in Karnataka, India on January 8, 2021 as "TESLA INDIA MOTORS AND ENERGY PRIVATE LIMITED"🇮🇳.
— Tesla Club India® #TeslaIndia🇮🇳 (@TeslaClubIN) January 12, 2021
Company also lists 3 Directors for India.
It's happening!!
Welcome @elonmusk , we are waiting for official launch⚡#TeslaIndia🇮🇳 #TCIN pic.twitter.com/a5mMY5P84s
The move comes after Tesla was reported in talks with the Maharashtra, Gujarat, Andhra Pradesh, Karnataka and Tamil Nadu state governments for setting up R&D and manufacturing units in India, the world’s fourth largest automobile market.
Karnataka Chief Minister B.S. Yediyurappa later tweeted saying the company would start an R&D facility in Bengaluru.
"Karnataka will lead India's journey towards Green Mobility. Electric Vehicle Manufacturer Tesla will soon start its operations in India with an R&D unit in Bengaluru. I welcome @elonmusk to India & Karnataka and wish him all the very best," the CM tweeted.
Karnataka will lead India's journey towards Green Mobility. Electric Vehicle Manufacturer Tesla will soon start its operations in India with an R&D unit in Bengaluru. I welcome @elonmusk to India & Karnataka and wish him all the very best.@PMOIndia @nitin_gadkari @Tesla
— B.S. Yediyurappa (@BSYBJP) January 12, 2021
Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein have been listed as directors of the company. Taneja is also Tesla’s chief accounting officer. The company’s registered address was given in Lavelle Road, Bengaluru, an upmarket area close to UB City.
The Karnataka government has welcomed the move. “We welcome this move by Tesla to incorporate itself as a company in the state. There is no agreement with the state government yet, discussions will now follow”, a senior official told CNBC.
Last year, it was reported that Tesla would arrive in India no later than June 2021. Union Transport Minster Nithin Gadkari himself had said Tesla would enter the country, beginning by setting up a sales network and later, depending on the market response, exploring local assembly and manufacturing. CEO Elon Musk himself had said in December that the Model 3, Tesla’s most affordable car, would be sold in the country. It has been speculated that the car would be sold as a Completely Built Up (CBU) unit costing under Rs 60 lakh.
