NEW DELHI (Reuters) – Tesla Inc. has taken another step towards its launch in India later this year by registering a company in the country, a regulatory dossier showed on Tuesday.
Tesla Motors India and Energy Private Limited was incorporated on January 8 with headquarters in the southern city of Bengaluru, a hub for several global technology companies.
The presentation shows that the Indian unit has three directors, including David Feinstein, who is currently a senior Tesla executive, according to his LinkedIn profile.
India’s Transport Minister Nitin Gadkari told a local newspaper in December that the American electric vehicle manufacturer would start with sales and could then examine assembly and manufacturing.
Elon Musk, chief executive of Tesla, has tweeted several times in recent years, even in October 2020, about an impending foray into India.
The move comes as Indian Prime Minister Narendra Modi promotes the production and use of electric vehicles to reduce the country’s dependence on oil and reduce pollution.
But efforts have been hampered by a lack of investment in manufacturing and infrastructure, such as charging stations.
To boost investment, India plans to offer $ 4.6 billion in incentives to companies that install advanced battery manufacturing facilities, according to a government proposal seen by Reuters.
Reports by Aditi Shah. Edited by Mark Potter