Photo Credit: Bloomberg
US-based electric car giant Tesla would set up its manufacturing unit in Karnataka, Chief Minister of the state B. S. Yediyurappa said on Saturday.
"American firm Tesla will set up the car-manufacturing unit in Karnataka," Yediyurappa said.
In 2021-22, infrastructure development at a cost of Rs. 1.16 crore would take place in the state and Rs. 14,788 crore would be released for the second phase of the Metro Rail work.
The Chief Minister said an industrial corridor would be developed in Tumakuru at an investment of Rs 7,725 crore creating 2.8 lakh jobs.
Hailing the Union Budget presented recently as historic, Yediyurappa said it would pave the way for a $5 trillion (roughly Rs. 360 lakh crore) economy by 2025.
Earlier in January, Tesla incorporation papers surfaced online and the listing of the board of directors mentions two senior Tesla executives. The company, titled Tesla India Motors And Energy Private Limited, was registered last week in Karnataka, with an address on Bengaluru's Lavelle Road.
Earlier, Transport Minister Nitin Gadkari had said that Tesla would launch operations in India in early 2021, and it appears that the company is taking the first steps in this direction.
The listing was surfaced on Twitter by a Tesla fan account, Tesla Club India, which also tracked down the location of Telsa's new office. Looking up the company on listing sites, you can also see that it is registered as a subsidiary of a foreign company, in the Sale, Maintenance, and Repair of motor vehicles category. But most importantly, the listed board of directors includes Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein. According to his LinkedIn profile, Taneja is Chief Accounting Officer (CAO) at Tesla. Another listing shows that Feinstein is Global Senior Director, Trade Market Access at Tesla.
Can Realme X7 Pro take on OnePlus Nord? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.