Khushi Bali, New Delhi
Here’s big news for car lovers. Tesla company registers itself as Tesla India Motors and Energy Private Limited. The American electric car maker is all set to enter India’s automobile market. There are three directors in the newly formed entity in the country. Their names are Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein.
Kamath brothers welcome Tesla
Nithin Kamath and Nikhil Kamath, founders of Zerodha welcomed Tesla on Twitter. CEO Nithin Kamath ran a poll for the Twitter users. The poll mentioned whether Indians want Tesla on the road or on the stock exchanges. The outcome was shocking. 80.5% of voters showed a preference for stock exchanges. The other Kamath brother, Nikhil Kamath shared a meme. In this meme, we can see a girl asking her loved one to give her $5000. To this, the boy asks her to buy 50 Tesla shares priced at $900. These shares are predicted to hit $1,000 with a stop loss of $850 (as per the meme).
— Nikhil Kamath (@nikhilkamathcio) January 12, 2021
What about the capital?
The Tesla Company has incorporated itself. Tesla is classified as a private subsidiary body of a foreign company. The authorized capital is INR 15.00 lakh and the total paid-up capital is INR 1.00 lakh. According to the reports, Tesla is also looking to set up its R&D base in India. By the month of June, Tesla could launch its Electric Sedan Model 3. In the last few months, the Company had various discussions with 5 states for beginning the operation in India. These states are Maharashtra, Gujarat, Tamil Nadu, Karnataka and Andhra Pradesh.