Entry of Tesla in India doesn t worry us: Mercedes-Benz
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Entry of Tesla in India doesn t worry us: Mercedes-Benz
Pankaj Doval / TNN / Updated: Jan 19, 2021, 13:27 IST
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(File photo)
NEW DELHI: Mercedes-Benz, the leader of the Indian luxury car market, has said that the entry of Tesla “doesn’t worry the company at all” and added that the addition of the American electric giant will only help in strengthening the position of premium green cars in the country.
Martin Schwenk, who leads Mercedes in India, said his company’s business in India remains on a strong footing and faces no apparent threat from the Elon Musk-run auto giant which has been gaining in scale and market capitalisation over the past few years.
Tesla India subsidiary set up in Bangalore
Tuhin Guha Published: January 13, 2021, 07:26 AM IST
Tesla, EV maker and the world s most valuable car company, has officially started its operations in India. The firm is based out of Bengaluru, and high ranking officials have said that the firm is also looking at setting up an R and D facility and eventually an assembly plant. Reports suggest that the Tesla s indian arm goes by the name of Tesla India Motors and Energy Pvt Ltd. The firm has three directors, Vaibhav Taneja as chief accounting officer, entrepreneur Venkatrangam Sreeram and David Jon Feinstein, a technical recruiter from the US. The company was registered on January 8, 2021. This development comes after Nitin Gadkari, Minister of State for Road Transport and Highway and Micro, Small and Medium Enterprises also confirmed that the firm was looking to make an Indi
Tesla Registers Its Indian Entity
WASHINGTON (dpa-AFX) - Electric car major Tesla Motors has entered into the Indian automobile market by incorporating its registered office under the name Tesla India Motors and Energy Pvt. Ltd. in the southern city of Bengaluru in the state of Karnataka.
According to a Registrar of Companies (RoC) filing, the new entity is registered as a subsidiary of foreign company. The filing also shows its office registered in Lavelle Road with an authorized capital of INR 15 lakhs and a paid-up capital of INR 1 lakh.
Ahead of the official launch of the company, the car maker also has named three directors for the newly formed Indian entity - Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein.
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Editor s Note: As of 9.56 am on 13 January, Karnataka chief minister, BS Yediyurappa, pulled down the tweet which confirmed that Tesla will soon be opening an R&D centre and an assembly plant in India.)
Tesla, EV maker and the world s most valuable car company, has officially started its operations in India. The firm is based out of Bengaluru, and high ranking officials have said that the firm is also looking at setting up an R&D facility and eventually an assembly plant. Reports suggest that Tesla s Indian arm goes by the name of Tesla India Motors and Energy Pvt Ltd. The firm has three directors, Vaibhav Taneja as chief accounting officer, entrepreneur Venkatrangam Sreeram and David Jon Feinstein, a technical recruiter from the US. The company was registered on 8 January 2021.