Tesla has finally arrived in India. The company has registered under the name of Tesla India motors and Energy Private Limited with the Ministry of Corporate Affairs, a regulator of corporate affairs in India. The information available on the website of the ministry reveals that the company was incorporated on 8th January 2021 and it’s listed as the “private subsidiary of the foreign company”. The name of the three directors that Tesla has appointed for its India operations are David Jon Feinstein, Vaibhav Taneja, and Venkatrangam Sreeram.
Among these names, David Jon Feinstein is the chief accounting officer and global senior director of Tesla Inc. VenkatrangamSreeram, on the other hand, is an entrepreneur and has been involved with operations of Cleartquote technologies and Xenon Automotive, both companies are having operations in the automotive aftermarket segment. The authorized capital and paid-up capital of the company, according to the document, is pegged at Rs 15 lakh and Rs 1 lakh respectively.
Tesla is the most valuable automotive brand in the world by the measure of market capitalization. The company is expected to launch its Model 3 electric sedan in India in June later this year. Besides, it’s also mulling on establishing India as a base for its research and development operations.
Tesla has been in talks with a number of different states to establish its manufacturing and sales operations in India. It has been in talks with a total of five states including Maharashtra, Andhra Pradesh, Gujarat, and Karnataka, and finally, it seems that Karnataka has been able to seal the deal with Elon Musk.
The entry of the world’s leading electric carmaker in India is definitely a positive development. It will help sure electric mobility in the country by bringing the focus back on the need for efficient technology and public charging infrastructure that is lacking in India.