Tesla registers India office in Bangalore, to start operations with R&D unit

Tesla Grabs India Business License Stock Surges Six Percent

Chris Liverani Tesla

In addition to the newest developments, Tesla also named three directors for its forthcoming Indian subsidiary - which will be both an electric vehicle and energy storage firm.

Tesla, the world's most valuable carmaker, has launched an Indian subsidiary as it prepares to create a much-awaited manufacturing plant and R&D unit in India.

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It is a private unlisted company with an authorized capital of Rs 15,00,000 and a paid-up capital of Rs 1,00,000. 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. In November last year, replying to a Twitter user who asked about the progress of the company's India plans, Tesla CEO Elon Musk had said, "Yea.Next year for sure".

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Earlier in the day, it was reported that Tesla is in talks with five state governments to commence operations in India. Maharashtra is already home to a host of domestic and foreign automobile manufacturers, with the Chakan industrial belt near Pune being a major automobile hub.

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