Tesla has initiated talks with the government officials of Karnataka to set up a Research and Development center in Bengaluru. Tesla is planning to open a facility for Research and Development of its products. Tesla was trying to enter the Indian market for quite some time and the company’s CEO Elon Musk even blamed the Indian government for its restrictive policies.
According to reports, later this month the Karnataka state government officials will be presenting a final detailed proposal to the Executives of Tesla and the deal will soon be finalized. If everything goes as planned, the Research and Development center in India will be company’s second destination outside US.
Tesla will raise the bar
With this, the competition in the Indian market will surely be raised. Tesla can be a tough competition for companies like Mahindra, TATA, Hyundai, and MG as these companies are also trying to dominate the electric vehicle market in India.
Company like Tesla seeking for R&D centre in India gives a clear idea that the country is becoming a priority hub for R&D centres across the globe.
Bengaluru (Karnataka) which is also known as the silicon valley of India has been home to many upraising companies in the field of electronic vehicles like Ola electronic, Ather, etc. This is also the major key factor for Karnataka becoming the first state in India to have its policy for electronic vehicles. Though after that many other states have brought their own policies.
Benefit for India: The electronic vehicle market in India is rising and has shining potentials. It is expected that the Indian market of electronic vehicles will be of Rs.50000 crore worth by the end of 2025.