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Tesla takes another step towards listing in India



File photo: The Tesla Model 3 electric car was exhibited at the Canadian International Auto Show in Toronto, Ontario, Canada on February 18, 2020. REUTERS / Chris Helgren / File Photo

According to Reuters, regulatory documents showed on Tuesday that Tesla had registered a company in India later this year, which brought it one step closer to its listing in India.

Tesla Motors India and Energy Private Limited were established on January 8. Its registered office is located in the southern city of Bangalore, which is a hub for many global technology companies.

The document shows that the Indian branch has three directors, including David Feinstein (David Feinstein), who is currently a Tesla executive, according to his LinkedIn profile.

Indian Transport Minister Nitin Gadkari told a local newspaper in December that the American electric car manufacturer would start with sales and then might consider assembly and manufacturing.

Tesla CEO Elon Musk has tweeted several times in recent years, including a recent tweet that entered India in October 2020.

The move comes as Indian Prime Minister Narendra Modi (Narendra Modi) is promoting the production and use of electric vehicles to reduce the country’s dependence on oil and reduce pollution.

However, the lack of investment in infrastructure such as manufacturing and charging stations hindered efforts.

According to government recommendations seen by Reuters, in order to increase investment, India plans to provide $4.6 billion in incentives to companies that set up advanced battery manufacturing facilities.

Reporting by Aditi Shah.Edited by Mark Potter


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