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Tesla Starts Talks For Research Center In India: Report

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Tesla Starts Talks For Research Center In India: Report

Tesla Inc. (NASDAQ: TSLA) is establishing itself in many markets across the world, with factories in the United States and China, and another being built in Europe. And even though Tesla doesn't currently sell vehicles in India, it looks like the company is thinking of starting a research center in Bengaluru.

A report from Economic Times says Tesla had talks with local officials in Karnataka on Sept. 10, as Tesla looks to possibly build a research center in Bengaluru. Another meeting is expected later this month where state officials are expected to present a detailed proposal to Tesla.

Earlier this year, CEO Elon Musk tweeted he hoped the Tesla Model 3 would be available in India soon.

Benzinga's Take: India is a huge market, and Tesla being excluded is unfortunate. The country has high import taxes on foreign-made vehicles, so Tesla would need to operate in the country to be able to offer affordable cars.

Could this research center possibly allow Tesla to avoid the import taxes? If so, it may be a great way for Tesla to be exposed to the Indian market without building a full vehicle manufacturing plant.

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Photo courtesy of Tesla

 

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