Shulou(Shulou.com)11/24 Report--

CTOnews.com, August 9, according to the Times of India, Tesla has set up a local subsidiary, Tesla India Automobile and Energy Company.

According to sources, the carmaker has rented 5850 square feet of office space at the joint office center of the Panchshil Business Park in India's Panavimanagar region, which is considered to be one of the largest IT centers in India.

Foreign media believe that this latest development shows that Tesla is preparing to enter the Indian market soon.

Tuyuan Pexels reported that the electric car brand submitted a proposal for a new factory to the Indian government as early as May and met with the country's commerce minister. In addition, Tesla discussed plans to build a factory in India last month.

Rumored Indian factories will produce a new low-cost electric model for local markets and exports, with prices expected to start at around 2 million Indian rupees (CTOnews.com Note: currently about 174000 yuan), Reuters reported.

In an interview with the Wall Street Journal in May, Musk said Tesla had announced plans to build a superfactory in Mexico, but that another factory would be under construction and its location could be revealed by the end of the year.

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