Tesla starts its operation in India Several media including CarDekho reported that Tesla would commerce in India in early 2021. The biggest EV company in the world, Tesla Motor has […]
Tesla starts its operation in India
Several media including CarDekho reported that Tesla would commerce in India in early 2021.
The biggest EV company in the world, Tesla Motor has finally set its foot in the Indian market. The company has registered its Indian subsidiary in Bengaluru, Karnataka, with the name ‘Tesla India Motors and Energy Pvt Ltd.’
Tesla has already appointed three directors: Vaibhav Taneja, Venkatrangam Sreeram and David Jon Fonstein. The company has set up its headquarters in the technology hub of the country with an authorised share capital of Rs 15 lakh and paid-up capital of Rs 1 lakh.
Recently, Elon Musk had hinted on Twitter about Tesla’s India operations. Union Minister Nitin Gadkari also confirmed that Tesla will commence India operations in early 2021. Tesla will initially commence with sales and if there’s a good response, they will also consider local manufacturing.
According to BBC, the country profile of India is described as follows.
India is the world’s largest democracy and, according to UN estimates, its population is expected to overtake China’s in 2028 to become the world’s most populous nation.
As a rising economic powerhouse and nuclear-armed state, India has emerged as an important regional power.
But it is also tackling huge, social, economic and environmental problems.
Home to some of the world’s most ancient surviving civilisations, the Indian subcontinent – from the mountainous Afghan frontier to the jungles of Burma and the coral reefs of the Indian Ocean – is both vast and varied in terms of people, language and cultural traditions.
According to Wikipedia (in English), Bangalore is explained in the following way.
Bangalore, officially known as Bengaluru, is the capital of the Indian state of Karnataka. It has a population of more than 8 million and a metropolitan population of around 11 million, making it the third most populous city and fifth most populous urban agglomeration in India. Located in southern India on the Deccan Plateau, at a height of over 900 m (3,000 ft) above sea level, Bangalore is known for its pleasant climate throughout the year. Its elevation is the highest among the major cities of India.
Bangalore is widely regarded as the “Silicon Valley of India” (or “IT capital of India”) because of its role as the nation’s leading information technology (IT) exporter, Indian technological organisations are headquartered in the city. A demographically diverse city, Bangalore is the second fastest-growing major metropolis in India. Recent estimates of the metro economy of its urban area have ranked Bangalore either the fourth or fifth-most productive metro area of India. Bangalore is home to 7,700 millionaires and 8 billionaires with a total wealth of $320 billion. It is home to many educational and research institutions. Numerous state-owned aerospace and defence organisations, are located in the city. The city also houses the Kannada film industry.
Potential of both India and Bangalore is huge
China became a member of World Trade Organization (WTO) in 2001, many developed countries including the US, EU and Japan, enjoyed “World’s Factory”. Thanks to its lower labor costs and high qualified labor power, a lot of companies established their factories in China, sold their products in China as well as across the globe. In addition to this, Chinese tremendous population creates its huge domestic demand so that not only Chinese but also world economy is growing in 2020s and 2010s. However both growth rate of Chinese population and economy seems slumped compared two decades and its labor cost is increasing as well. Therefore, global giants need the next China, and possibly it is India or Africa. Even though India is not the same “World Factory” as China and does not have as big domestic market as China does, we can say that the country has potential, too.
In India, Bangalore is called “Silicon Valley” of India, and actually, foreign big companies such as Google, Microsoft, IBM, Walmart and Adobe establish each Research and Development center in Bangalore. When it comes to Tesla, the EV giant is without exception and wants to be a market leader in the next China.