Tesla’s first Indian subsidiary sets up in Bengaluru

Billionaire Elon Musk-led Tesla has registered a subsidiary company in India after its founder indicated last year that Tesla would start selling its cars in India in 2021 and Nitin Gadkari (Union Road Transport and Highways Minister) had claimed the same in the month of December last year.

It is understood that the US electric car manufacturer is doing R&D in collaboration with at least one of the Bengaluru auto engineering companies and has named Vaibhav Taneja as its chief accounting officer, David Feinstein as its senior director of global trade and new markets and Venkatrangam Sreeram as one of its directors.
The new company Tesla India Motors and Energy Private Limited, as reported by the Registrar of 
Companies (RoC), is registered in Bengaluru, Karnataka and listed as subsidiary of foreign organization.
In the meantime, it has also registered its office in Lavelle Street, business region in the southern 
city, as registered, with paid-up capital of about lakh and an approved capital of about 15 lakh.

“We have been interacting with Tesla for the last few months and it is a happy news that they have decided to incorporate their company here. We have impressed upon them that Bengaluru is not only the technology capital but also the aerospace and space capital. For any kind of technology collaboration, it has the right kind of talent pool,” said Gaurav Gupta, principal secretary, commerce & industries of Karnataka said.

“How they want to enter and take it forward is left to their judgment. Hopefully, this will lead to the sales office, research and further developments as necessary,” he added.

Elon Musk, who has recently become the richest person in the world surpassing Amazon Inc. founder Jeff Bezos, also enjoys cult-like status in India as well as abroad, contributing to the increasing demand for  Tesla and its products.
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