The American electric car giant, Tesla has finally made its entry into the Indian market. The company has officially registered with the Registrar of Companies in India at its Bengaluru branch. Furthermore, the registration has been done under the name of Tesla India Motors and Energy Private Limited. The carmaker has set up an R&D unit 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 Elon Musk to India and Karnataka and wish him all the very best," tweeted Karnataka Chief Minister BS Yediyurappa recently.
Talking about Tesla India Motors and Energy, the registered office is on Lavelle road, Bengaluru. It has an authorized capital of Rs 15 lakhs. As per the regulatory filings, the Indian unit will have three Directors - Vaibhav Taneja, Venkatrangam Sreeram, and David Feinstein. Vaibhav Taneja is the Chief Accounting Officer at Tesla. While David Feinstein is the Senior Director of Global Trade and New Market(finance). However, Venkatrangam Sreeram’s designation is still not clear. We only have the information that he is the Co-Founder of ClearQuote - an app that basically helps to assess any kind of damage on the vehicles based on smartphone images or videos. Besides these, the company is also in talks with Maharashtra, Gujarat, Andhra Pradesh, and Tamil Nadu regarding expansion of operations.
Tesla is planning to launch its first model named Model 3 in June this year in India. We can expect the bookings to begin from this month onwards. As for the deliveries, it might commence from the end of the first quarter of the financial year 2021-22. The entry-level sedan will fall in the price range of Rs 55 lakhs - Rs 60 lakhs (ex-showroom).