Tesla Is Getting Closer To India

Tesla Inc (NASDAQ:TSLA) has had a record stock run. The company continues to increase sales year over year, while still building new factories in Germany and Texas, and the company appears to be on its way to cracking a new market.

Chief Minister of Karanatka, B.S. Yediyurappa, announced on Twitter that Tesla will start operations of an R&D unit in Bengaluru, Karnataka. This will be Tesla's first operations in India

Karnataka will lead India's journey towards Green Mobility. Electric Vehicle Manufacturer Tesla will soon start its operations in India with an R&D unit in Bengaluru. I welcome @elonmusk to India & Karnataka and wish him all the very best.@PMOIndia @nitin_gadkari @Tesla

— B.S. Yediyurappa (@BSYBJP) January 12, 2021

Back in October, CEO Elon Musk said Tesla would begin selling cars in India this year.

Next year for sure

— Elon Musk (@elonmusk) October 2, 2020

Tesla fan site Tesmanian also says the company is in talks with five states in India to launch manufacturing and R&D facilities in the country. Union Minister for Road Transport and Highways Nitin Gadkari said Tesla would be entering India in 2021, and it appears those plans are progressing.

So far, state governments in Maharashtra, Gujarat, Andhra Pradesh, Karnataka, and Tamil Nadu have held talks with Tesla. The Karnataka government went as far as providing Tesla with several location options for setting up production and other operations.

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