Tesla In Talks With Tata Power For India Charging Infrastructure - Tesla (NASDAQ:TSLA)

Tesla, Inc. TSLA, which is gearing up to sell electric vehicles in India, is laying the groundwork for the international expansion.

What Happened: The U.S. EV giant is in exploratory talks with Tata Power regarding charging infrastructure, a CNBC-TV18 report said.

Tata Power is India's largest integrated power company headquartered in Mumbai, Maharashtra.

Talks between Tesla and Tata Power are in the initial stages, and no agreement has been reached as of yet, the report said.

Tesla is initially planning to open two to three sales outlets as part of its India foray, the report added.

The chief minister of the Indian state of Karnataka said last month that Tesla will establish its manufacturing base in the state.

In January, Tesla registered its office as Tesla Motors India & Energy Pvt Ltd, in Bangalore, the capital city of Karnataka, and also named three directors.

Why It's Important: Electric vehicle adoption is heavily reliant on the availability of a nationwide network of fast-charging infrastructure.

It therefore comes as a no surprise that Tesla is working on infrastructure ahead of EV sales in India.

Tata Motors Limited ADR TTM, which is a sister company of Tata Power, is gearing to launch its own all-electric SUV — the Jaguar I-Pace — this month.

The company has reportedly set up charging infrastructure at key locations such as restaurants, offices, malls and highways across major Indian cities.

At last check, Tesla shares were down 2.76% to $680.27.

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