Elon Musk confirms Tesla’s entry into India
Tesla chief executive Elon Musk has confirmed the company’s plans to enter the Indian market, within days of electric car manufacturers registering their arm in the country.
“As promised,” Musk wrote on twitter in response to a thread attached to a blog analyzing how India could become an unsustainable market for Tesla cars despite having high prices.
Earlier this week, it emerged that American electrician Tesla had registered his Indian arm amid indications that the company was about to enter the South African car market.
In terms of file filling out, the company has registered Tesla India Motors and Energy Pvt Ltd with the Registrar of Companies (RoC) Bangalore.
The company is registered as an unregistered private business with a fixed fee of Rs 1 lakh.
Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein have been appointed directors of Tesla India, according to RoC filing.
The company is reportedly in talks with five provinces as it looks at the possibility of establishing its own manufacturing unit and research and development center (R&D) in India.
Last month, Union Minister Nitin Gadkari said Tesla was expected to start operating in the country in 2021 and would also consider the establishment of a production unit as needed.
Tesla had been linked to Tata Motors for major domestic vehicles in a possible partnership but the latter denied such a plan.
In November last year, Musk confirmed on Twitter in response to a fan who asked about the progress of the company’s entry plans to India, “Yes..Now next year”.
Musk, however, had previously used Twitter to announce the company’s intention to enter India.
In 2019 again, in response to a Twitter question, Musk said “he would like to be here this year. If not, definitely next time!”
However, in 2018, he cited as a reason the area that controls the challenge of not being able to enter India.
Earlier, the Maharashtra government had said it wanted funds to be deposited in Tesla province and held talks with the company.