- Business

Tesla to Set Up Electric Car Manufacturing Unit in Karnataka, Says CM Yediyurappa

Tesla Inc will set up an electric car manufacturing unit in Karnataka, Chief Minister BS Yediyurappa said on Saturday. The statement was part of a press release on Saturday listing benefits for the state under the Union Budget. However, according to sources in the Chief Minister’s Office (CMO), the budget does not mention the move but talks around it have been positive.

Last month, the American electric carmaker incorporated Tesla Motors India and Energy Private Limited with its registered office in Bengaluru, a hub for several global technology companies.

Tesla, the world’s most valued car maker, registered with the Registrar of Companies on January 8. Its main office will be on Lavelle road, in the heart of Bengaluru’s central business district. Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein are listed as Directors of the incorporated entity.

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While Taneja is their chief accounting officer, Feinstein is the Global Senior Director of Tesla, based in California.

Karnataka chief minister BS Yediyurappa had announced a grand welcome to Tesla on social media saying, “Karnataka will lead India’s journey towards Green Mobility. Electric Vehicle Manufacturer Tesla will soon start its operations in India with an R&D unit in Bengaluru. I welcome @elonmusk to India & Karnataka and wish him all the very best.”

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