Tesla is in talks to set up an R&D centre in Bengaluru. The representatives from the company and Karnataka government held discussions on this on September 10th and there may be one more round of talks taking place later this month in which the government representatives may present a detailed proposal to the Tesla executives, ET has reported.
India is world’s fourth largest automobile market and the EV market in the country is also expanding quickly and is anticipated to grow at a robust CAGR of above 40% till 2030, according to a report by BIS Research. Tesla being one of the biggest electric car makers in the world it is expected to enter this market sooner or later.
Earlier this year, Tesla chief Elon Musk had cited challenging government regulations in the country as impediment for entering the Indian market. But apart from Centre’s FAME II policy many states have come up with EV policies to promote the adoption of these vehicles, Karnataka being one of the first states to announce its EV policy. The state is also home to many shared mobility and emobility startups which adds to the chances of company setting up R& D Center here.
If the talks reach positive conclusion, this would be Tesla’s second research facility outside the US.
