[ad_1]
Elon Musk, founder of SpaceX and CEO of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, Tuesday, December 1, 2020.
Johannessen-Koppitz | Bloomberg | Getty Images
Tesla moved closer to launching in India later this year by registering a company in the country, a regulatory brief revealed on Tuesday.
Tesla Motors India and Energy Private Limited was incorporated on January 8 with its head office in the southern city of Bengaluru, a hub for several global technology companies.
The record shows the Indian unit has three directors, including David Feinstein, who is currently a senior executive at Tesla, according to his LinkedIn profile.
Indian Transport Minister Nitin Gadkari told a local newspaper in December that the US automaker would start with sales and then could move on to assembly and manufacturing.
Tesla chief executive Elon Musk has tweeted several times in recent years, including as late as October 2020, about an impending incursion 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.
[ad_2]
Source link