NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Tesla enters India, sets shop in Bengaluru; Gadkari confirms news
    Tesla enters India, sets shop in Bengaluru; Gadkari confirms news
    Business

    Tesla enters India, sets shop in Bengaluru; Gadkari confirms news

    Written by Nachiket Mhatre
    January 14, 2021 | 01:14 am 2 min read
    Tesla enters India, sets shop in Bengaluru; Gadkari confirms news
    Credits

    After years of speculation and a failed pre-order attempt, Tesla has finally entered India. And this time it's for real because the company has registered an Indian arm in Bengaluru, Karnataka. Tesla's Registrar of Companies (RoC) filing names a new entity Tesla India Motors and Energy Private Limited. The company is classified as a foreign subsidiary headquartered in the business district of Lavelle Road.

    Initial Tesla cars might take the expensive CBU import route

    This development isn't surprising since Union Minister Nitin Gadkari himself had confirmed back in December that Tesla would begin its India operations this year. Gadkari had also revealed that the company's initial sales will be Completely Built-up Units (CBU), which are total imports attracting a staggering 100 percent import duty. However, the government could extend some tax incentives considering its push for green technologies.

    Tesla Model 3: The most plausible choice for first offering

    If Tesla takes the CBU route, it makes sense for it to field its cheapest offering, Model 3, to mitigate the effect of high import tariffs. This theory is further supported by Tesla's ROC filing reflecting an investment of Rs. 1 lakh, with a further authorized capital of Rs. 15 lakh. That isn't nearly enough for an R&D center, much less a manufacturing plant.

    Tesla's focus on technology reflects in its choice of headquarters

    While traditional car manufacturers tend to favor Chennai, Pune, or Haryana while setting up Indian operations, Tesla seems to have chosen Bangalore primarily for its history with electric vehicles. That's because the city is not only known for its IT expertise, but also for being home to the Reva Electric Car Company, which also exported the G-Wiz electric vehicle to UK until 2012.

    This isn't Tesla's first attempt; Failed to honor 2016 pre-orders

    While Tesla has made a token initial investment to set shop in India, it is expected to consider setting up an R&D center and possibly even a manufacturing plant depending on the demand. However, die-hard Tesla fans in India haven't forgotten that the company didn't hold up its end after accepting $1,000 as pre-order fees for the Model 3 back in 2016.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Nitin Gadkari
    Bengaluru
    Tesla
    Tesla India Motors

    Nitin Gadkari

    Indian government to set up 69,000 EV charging stations Electric Vehicles
    All important decisions taken on farmers, MSMEs during Cabinet meeting Narendra Modi
    Vehicle scrappage policy in last lap for Cabinet nod Nirmala Sitharaman
    BJP releases Delhi poll manifesto; here are the highlights Gautam Gambhir

    Bengaluru

    Vivek Oberoi's brother-in-law Aditya Alva arrested in drugs case Chennai
    #CreatingHistory: Air India's all-woman crew flight lands in Bengaluru San Francisco
    BJP's Maneka Gandhi allegedly threatens businessman with false molestation case Twitter
    Loan app case: Chennai Police arrests 2 Chinese nationals Karnataka

    Tesla

    Rivaling Tesla, NIO launches ET7 electric sedan with autonomous driving NIO
    Apple negotiating with Hyundai to manufacture its self-driving electric car Elon Musk
    Elon Musk surpasses Jeff Bezos to become world's richest person SpaceX
    World's first Tesla Model Y commissioned as a police car United States of America

    Tesla India Motors

    Rejecting Tesla's appeal, government says won't slash duties on EVs Electric Vehicles
    Next News Article

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023