Elon Musk's Tesla setting up R&D centre in Bengaluru: CM

Marco Green
January 12, 2021

Musk has fallen behind behind Amazon CEO Jeff Bezos after the share of his electric vehicle company Tesla slipped on Monday. According to documents available, Tesla, the world's most valued auto maker, has registered with the Registrar of Companies on January 8.

Tesla India Motors and Energy Private Limited has incorporated itself in Bengaluru, with its main office on Lavelle road, in the heart of Bengaluru's central business district.

The company is registered with a authorised capital of Rs 15 lakh and paid-up capital of Rs 100,000. Tumbling shares of Tesla, his electric-vehicle company, on Monday chopped $13.5 billion off his fortune.

The Karnataka government has already proposed a list of locations, Tumkur being one, to Tesla for setting up its manufacturing facility.

World's leading electric auto maker Tesla is setting up its research and development (R&D) centre in Bengaluru to commence its India operations soon, said Karnataka Chief Minister B.S. Yediyurappa on Tuesday. "Next year for sure", Musk said on Twitter replying to a post with a photograph of a T-shirt with the message: "India wants Tesla".

Other reports by Click Lancashire

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