Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein have been announced as Tesla India’s directors; they have been incorporated as a private non-listed company. Tesla has a Bengaluru firm with three directors, land scouts. Tesla CEO Elon Musk said in 2020 that the company would launch its India foray “next year for sure”
Before its highly awaited launch in India, Tesla has formed a Bengaluru-Tesla India Motors and Energy Private Ltd company with a paid-up capital of Rs 1 Lakh and three directors.
The registered address of the firm, which is likely to be its headquarters, is situated in the heart of the city, just a mile from the UB City complex. The company was founded as recently as 8 January, and two of the company’s three directors are senior officials of the parent company. Vaibhav Taneja is Chief Accounting Officer at Tesla, and David Feinstein is the world’s senior director. Comparatively, little is known more about the third director, Venkatrangam Sreeram, who is also on the board of two other companies – Xenon Automotive India, a car fleet and dealer management firm, and Clearquote Technologies India, an artificial intelligence firm specializing in vehicle inspection.
In view of its association with the other two firms, it is presumed that Sreeram is likely to be the spearhead of the company’s unique direct consumer retail model that bypasses its need for brick and mortar showrooms and service centers.
The company is also investigating potential land for production and R&D set up in the country. It is currently engaged in negotiations with several states, including Karnataka, Maharashtra, Gujarat, Tamil Nadu, and Andhra Pradesh. On Monday, Karnataka’s Minister of Industry, Jagdish Shettar, announced that the state had been in talks with the EV Major and suggested various locations for his factory. “We have held talks with Tesla. They will have to confirm in what manner they will participate,” said Gaurav Gupta, Chief Secretary of Commerce and Industry.
Rumors of the company’s entry into India have been circulating for some time. Still, a clarification came in October 2020 when its CEO Elon Musk, while responding to a question by Tesla Club India, said that its entry would happen “next year for sure” Minister for Road Transport and Highways Nitin Gadkari has said recently that the firm will be reaching India this year. Enthusiast Nikhil Chaudhary, who manages an independent Tesla Club India account, commented on the business’s growth by establishing a local subsidiary in India.
Chaudhary said that he kept track of trends on the Ministry of Corporate Affairs website as the details emerged on Tuesday afternoon. In mid-2020, Tesla became the world’s most valuable automotive maker by market capitalization when demand for its electric vehicles and its shares shot through the roof. His CEO Musk has just recently become the richest man on earth to conquer Jeff Bezos from Amazon.
Take a look at these people and their position in Tesla Bengaluru:
Vaibhav Taneja is currently Tesla’s Chief Accounting Officer and named Tesla India Motors and Energy Private Limited as Director of Tesla’s Indian Arm in January 2021. Taneja has more than two decades of accounting experience working for international corporations in technology, banking, retail, and telecommunications throughout her career. Before his current position as corporate controller at Tesla, he worked closely with former CFOs Deepak Ahuja and Kirkhorn on Tesla’s quarterly revenue, the U.S., and foreign management. He worked closely with financial forecasting and research functions.
Taneja joined Tesla in 2017 from SolarCity, a solar energy firm that Tesla acquired in 2016, where he initially served as vice president and later corporate controller and led the successful merger of both business accounting departments. In addition to managing, SolarCity’s roles included mergers, incorporation of billing and collections, direct and indirect taxes, and direct connections to financial planning and research functions and investor relations.
Venkatrangam “Venkat” Sreeram was appointed the Director of India in January 2021. Sreeram is the co-founder of AI ClearQuote and Cartesian, a car service provider. He spent almost seven years as Managing Director of Xenon Automotive, a dealer management company. He spent two years as a Project Manager at Tesla Motors China, where he founded wholesale and retail operations between 2012 and 2014. Sreeram holds a Bachelor’s Degree in Mechanical Engineering from the Indian Institute of Technology in Madras.
David Jon Feinstein
Feinstein is the Global Senior Director, Trade Market Access, at Tesla and was appointed as the Director of Tesla India in January 2021. He is also on the board of other Tesla units, including in Slovenia.