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.
Important takeaways for all competitive exams:
- Tesla Founded: 1 July 2003.
- Tesla Headquarters: California, United States.