Musk founder and chief executive officer of the Cupertino-based Tesla said on Twitter last year that the company plans to enter India ‘for sure’ in 2021
"We have been interacting with Tesla for the last few months, and it is happy news that it has chose to incorporate its company here".
According to Karnataka Government officials, Tesla was exploring the possibility of setting up an R&D centre based in Bengaluru. Tesla Motors India and Energy Private Limited was incorporated on January 8 with its registered office in the southern city of Bengaluru, a hub for several global technology companies.
The company is registered with a authorised capital of Rs 15 lakh and paid-up capital of Rs 100,000. As per the filings, Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein will be the three directors of the Indian business.
Renault Formula One team principal Abiteboul leaves team
Abiteboul joined Renault after university before graduating to the F1 team in 2007, becoming executive director three years later.
Musk had, in fact, set off speculation in October on what place he would choose for an India entry when he tweeted "next year for sure" In response to a question from a Tesla fan club Twitter handle on when the company would start operations in the country. The Karnataka government had made a strong pitch to invite Tesla to the state. This can be an inflection point for electric mobility in India and might convince many prospective customers to consider buying an EV in the future. Earlier last month, Elon Musk announced that the company shall begin operations in India in 2021. "We welcome this move by Tesla to incorporate itself as a company in the state".
In October last year, Musk, who overtook Amazon founder Jeff Bezos as the world's richest man with a whopping $195 billion net worth last week, had said that the electric auto maker is finally ready to enter the India market next year.
In 2018, Musk had cited the country's challenging regulatory environment as among the reasons for not foraying into India.
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