Economy

Tesla Nabs India Business License - Stock Surges? | IE

Tesla Nabs India Business License - Stock Surges? | IE”

After years of back and forth and numerous tweets from the world's richest person Elon Musk regarding his plans to enter the country, American electric carmaker Tesla has chosen Bengaluru to kick off its India operations.

The company, registered as Tesla Motors India & Energy Pvt Ltd, has named three directors as part of its team in the country, Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein.

Tesla officially gained a business license in India, which will enable the automaker to operate in the country as a domestic automaker - as a subsidiary of a foreign (U.S.) company, according to the Ministry of Corporate Affairs (MCA) in India. CNBC-TV18 has reported that Tesla is in touch with state governments in Maharashtra, Gujarat, Tamil Nadu and Andhra Pradesh as well. This was confirmed by Tesla CEO Elon Musk.

As per the CNBC TV18 report, Karnataka has offered various locations as well solutions to the company for helping them in setting up manufacturing facility in the state.

More news: National Football League playoffs: Lamar Jackson helps Ravens run past Titans in Tennessee

Tesla sales teams are now working on building custom sales and production orders for the India market, ensuring orders are complete and validated once the configuration is finished. "Next year for sure", Musk said on Twitter replying to a post with a photograph of a T-shirt with the message: "India wants Tesla".

Tesla officials had held talks with the Karnataka government in September previous year for opening its research facility in this tech hub. Its first such overseas centre is in Shanghai where it has a Gigafactory to make electric cars.

Mobility startups such as Ola, Uber, Bounce and Vogo have set targets to include more electric vehicles (EVs) in their fleets.



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