The initiation of Tesla in India is in full swing. As co- founder Elon Musk had promised the entrance in 2021, the American electric carmaker is geared up for setting up the operations on Indian soil. The news was also confirmed by Union Minister Nitin Gadkari.
According to the Ministry of Corporate Affairs, the company already registered its Indian arm at Bangalore on 8 January 2021. Moreover, it is also collaborating with 5 states to find a location for establishing its centres.
Tesla Registered In India
The Registrar of Companies (RoC) has officially registered the American EV maker as Tesla India Motors and Energy Private Limited. Reportedly, the company has been incorporated as a ‘Subsidiary of Foreign Company’ and maybe known as Tesla Inc.
The company has announced three directors Vaibhav Taneja, Venkatarangam Sreeram and David Jon Feinstein who will look after the entire operations In India. Taneja would be the Chief Accounting Officer of Tesla Inc.
Tesla In Search Of A Location
Considering the already existing automobile market, the American EV maker has shortlisted 5 states which are Maharashtra, Gujarat, Andhra Pradesh, Karnataka, and Tamil Nadu for establishing a base. All these states are putting their best foot forward for impressing Tesla.
Currently, the company is collaborating with the central and state governments to search a perfect location for setting up the operations. The company is exploring the possibility of headquarters, manufacturing centres and R&D centres in India.
It is also considering the presence of OEMs, component suppliers and vendors vehicle searching since it is planning to partner with local suppliers for procuring the components for automobiles. Reportedly, one of such locations suggested by the Karnataka government to Tesla is Tumkur located near Bangalore.
Tesla’s First Project In India
Tesla is going to take the first step towards capturing the Indian market by introducing its Model 3 sedan to the customers. Priced between Rs 55 to 60 lakh, this luxurious EV is the most affordable model offered by the brand. The overwhelming record of covering up to 500 km in a single charge with a top speed of 250 kmph has made it an arch rival of Mercedes-Benz C-Class cars. This electric sedan will be brought in as Completely Built Unit (CBU) in India.
This is not the first time that Tesla has tried to penetrate into Indian market. Previously, the company had planned to establish itself in India in 2016 and had also started taking orders from Indian customers. But it had to back out because of the unsatisfactory infrastructure and changing import policies.
However, the improving infrastructure and increasing potential of the market in India may have prompted Tesla to reconsider. The introduction of EV makers like Tesla will further give a push to the government’s mission of making India a global hub for electric vehicles by 2025.