Tesla had confirmed its India plans recently. The company has also set up an office in Bengaluru
The government of Karnataka noted that Tesla will be opening a electric vehicle manufacturing plant in Karnataka. Elon Musk, in December 2020, had tweeted and confirmed about Tesla’s plans for foraying into the country.
The news comes at a time when Tesla was recently offered land to build an EV manufacturing facility by the government of Rajasthan. The Rajasthan government in the letter reached out to the company saying “consider Rajasthan state as a location for your future manufacturing unit In India.”
Rajiv Arora, president of Federation of Rajasthan Exporters, had also written to letter the chief minister for reaching out to Tesla. He said that Rajasthan provides the strategic location for Tesla. That’s why the government needs to provide incentives under a special package to attract the company to the state.
As a matter of the fact, the company has has registered its Indian entity in the name of Tesla India Motors And Energy Private Limited in Bengaluru Karnataka, according to documents filed in the Ministry of Corporate Affairs (MCA). Tesla has incorporated itself with an authorised capital of Rs 15 lakh and a paid-up capital of Rs one lakh.
Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein were appointed as the three directors of the new company.
One of the biggest amount, in the new PLI schemes as incentive, has been earmarked for Advance Chemistry Cell (ACC) Battery vertical at Rs 18,100 crore
