Tesla has another new move: expand to India and recruit local executives

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Tencent technology news on June 3, people familiar with the situation disclosed on Wednesday that Tesla has started to recruit local executives in India, preparing to enter one of the world’s largest emerging automobile markets.
It is reported that Tesla is recruiting sales and marketing directors and human resources directors in India. A Tesla fan club tweeted last week that the company has hired a senior Indian legal adviser. After months of speculation, Elon Musk, Tesla’s chief executive, has almost confirmed that Tesla will enter the Indian market in January next year. “As promised,” Musk said on January 13, responding to reports that Tesla was negotiating with several Indian states to consider opening offices, exhibition halls, R & D centers and a factory
Indian media reported last month that prashanth Menon, who has worked for Tesla for about four years, has been promoted to Chief Executive of India. Tesla has not commented on the report so far.
Tesla is keeping a close eye on the announcement by the government of prime minister Narendra modi to change the country’s commodity and sales tax, which could reduce the cost of owning an electric car, people familiar with the matter said. The company is still waiting for further incentives from India’s production linked incentive scheme for electric vehicle manufacturers before actually entering the country.
As India’s manufacturing incentives increase year by year, it will attract the world’s largest brands to produce products in India and export them to all parts of the world. Last month, India’s cabinet also approved a 181 billion rupees (US $2.5 billion) plan to increase battery storage capacity to 50 billion watt hours.
But Tesla’s entry into India could be challenging. Unlike China, India has no incentive policy to launch electric vehicles. Tesla established its first factory in Shanghai outside the United States and now dominates sales of high-end electric vehicles in China. According to foreign media reports, electric vehicles account for about 6% of China’s annual car sales, compared with less than 1% in India.
The high cost of Tesla electric cars is also seen as a sticking point. Although India is home to the emerging middle class, the vast majority of people still can’t afford expensive cars. In addition, the lack of charging infrastructure is another obstacle to the large-scale adoption of electric vehicles.
The chief minister of the southern state of Karnataka said in February that Tesla had chosen to build its first manufacturing plant in Karnataka. Tesla did not comment. People familiar with the matter said at the time that the company had been negotiating with local officials for six months and was actively considering assembling electric vehicles in the outskirts of Bangaloreļ¼ˆ Compiled by Tencent technology / Wuji)