Elon Musk’s Tesla Can Partner With Tata Power For Building Electric Charging Stations In India!

On Friday, CNBC-TV18 reported that in order to set up charging infrastructure for electric vehicles in the country, Palo Alto-based electric-car maker Tesla is exploring a possibility of an arrangement with Indian conglomerate Tata Sons’ power generation unit, Tata Power.

Shares Of Tata Power Rises

Ever since June 2014, shares of Tata Power rose 5.5% to what is their best closing level. As Tesla plans to import and sell its Model 3 electric sedan in India.

According to a government document, Tesla is all set to set up its electric-car manufacturing unit Karnataka, a southern Indian state.

Talks Are In Initial Stages

Reportedly, there have been no arrangements as of now as the talks between Tata Power and Tesla are in the initial stages.

In a statement to stock exchanges, No new agreements have been finalized and Tata Power’s electric vehicle charging business is still exploring the growth opportunities. It did not elaborate but also said that the CNBC-TV 18 report was “factually incorrect”.

Tesla was not immediately available for comment.

In the month of January this year, Tesla incorporated Tesla Motors India and Energy Private Ltd with its registered office in the Silicon valley of India, Bangalore.

Tie-up with Tesla, has been denied by Tata Motors Ltd, the car making unit of Tata Sons last week.