Tesla India to set up its manufacturing plant in Karnataka

 As per a new announcement by the Chief Minister of Karnataka - BS Yediyurappa, Tesla India will be setting up its manufacturing plant in Karnataka. Tesla has already registered itself by the name ‘Tesla India Motors and Energy Pvt Ltd’ with the Registrar of Companies, Bengaluru. It will most likely have its headquarters in the same state. 

The registration of the American electric car maker was done last month on 8 January. It is expected to be headed by three directors - Venkatrangam Sreeram, David Jon Feinstein, and Vaibhav Taneja. The Union Minister for Road Transport and Highways – Nitin Gadkari confirmed that Tesla will commence its business operations in the country this year. It will begin with the sales of its models via tha CBU route and eventually set up a research facility and manufacturing plant in the future. 

The first offering from Tesla, for India, could be the Model 3 electric sedan which could be priced between Rs 55 to Rs 60 lakh (ex-showroom). The Model 3 is the least expensive model in Tesla’s lineup that is available with a single or dual motor setup putting out power between 283bhp to 450bhp. It can sprint from 0 to 100kmph in a mere 3.3 seconds and the claimed range stands at 500km on a single charge. 

Tesla’s market capitalisation has gone up more than 750% in the past year, valuing the electric vehicle maker at about $800 billion, miles ahead of the other auto behemoths like GE, Toyota and Ford. While Tesla’s cars will be outside the reach of most in India due to the high price coupled with heavy import duty, the company’s presence has the potential to accelerate the drive towards electric mobility.

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