Elon Musk-owned electric vehicle (EV) company Tesla has registered a fully-owned subsidiary in Bengaluru, Karnataka. Tesla, the world’s most valued carmaker has incorporated a fully owned subsidiary ahead as a first step to set up an R&D unit and a manufacturing plant for its electric vehicles in the country.
Tesla’s global senior director David Jon Feinstein, chief accounting officer Vaibhav Taneja and Bengaluru-based entrepreneur Venkatrangam Sreeram are on the board of the India unit, Tesla India Motors and Energy Pvt Ltd. The office, situated on Lavelle Road in Bengaluru, is registered with a total paid-up capital of Rs 1,00,000 and authorised share capital of Rs 15 lakh.
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