Chief Minister, YS Yeddyurappa earlier on a television channel said that Karnataka will be the first state in the country to house the revolutionary electric car manufacturing unit- Tesla.
Tesla has already registered a company by the name Tesla India MOtirs and Energy in The capital city of Karnataka – Bengaluru. The company will have an office set-up in Lavelle Road and has an authorized capital deposit of 15 Lakh.
There are rumors that the company is working hand in hand with an auto engineering company based in Bengaluru, though we still don’t have conclusive evidence to confirm the same.
India one of the largest automobile markets for years has been reluctant in entertaining Tesla cars. But the Tesla company CEO Elon Musk last year commented that the company will initiate its operation in India next year.
The same stand was taken by the Union Minister for Road Transport and Highway – Nitin Gadkari when he was giving a press release saying that he expects Tesla to start functioning in India by the end of 2021. He also added that further expansion will be based on the market response.
Tesla has taken the auto market by storm, within a short period of time the company capitalisation has gone up by 750%, making the company valued at around $800 billion. These numbers are way ahead when compared with other eco-car manufactures like GE, Toyota, and Ford.
The new luxury car which will be beefed up more by the import duty is expected not to hit the ground running, although a strong presence of a futuristic company like Tesla is always a good thing for the car enthusiasts of this country.