The US-based electric and clean energy company Tesla has opened a fully-owned subsidiary in India with its offices in Bengaluru.
According to Karnataka Government officials, Tesla was exploring the possibility of setting up an R&D centre based in Bengaluru.
It is also in talks with the State government for setting up an assembly plant at Dharwad in north Karnataka.
According to the Registrar of Companies’ website, Tesla’s subsidiary, Tesla India Motors and Energy Pvt Ltd, was incorporated on January 8 with three directors. They include Vaibhav Taneja, who is a chief accounting officer at Tesla; Venkatrangam Sreeram, who is also associated with two other Indian companies, Xenon Automotive India Pvt Ltd and Clearquote Technologies India Pvt Ltd, as per data intelligence platform, Tofler; and David Jon Feinstein.
The company has been registered with an authorised capital of ₹15 lakh and a paid-up capital of ₹1 lakh.