With plans to launch electric cars in India by 2022, Elon Musk’s Tesla is all set to make a splash in the Indian market after registering Tesla India Motors and Energy Private with the Ministry of Corporate Affairs in Bangalore.
The electric vehicle giant was incorporated as a subsidiary of the foreign holding company in Bengaluru, Karnataka on 8th January, 2021. As per the Registrar of Companies (RoC) filing, Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein will be the three directors of the Indian business.
Here’s a closer look at these three individuals and their professional backgrounds.
Vaibhav Taneja will be Tesla’s Chief Accounting Officer. Taneja has more than two decades of accounting experience, having worked with multinational companies in technology, finance, retail and telecommunications during his career. Prior to his current role, he was a corporate controller at Tesla in which he has closely collaborated with previous CFO Deepak Ahuja and Kirkhorn on Tesla’s quarterly earnings, U.S. and international controllership, and closely collaborated with the financial planning and analysis functions.
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Taneja joined Tesla in 2017 from SolarCity, a solar energy company that Tesla acquired in 2016, where he originally served as vice president and later corporate controller and led the successful integration of both companies’ accounting teams. At SolarCity, his responsibilities in addition to controllership included mergers integration billing and collections, direct and indirect taxation in addition to directly liaising with the financial planning and analysis functions and investor relations.
Now, relatively little is known about director Venkatrangam Sreeram though, who is also on the board of two other firms – Xenon Automotive India, an automotive fleet and dealer management firm, and Clearquote Technologies India, an artificial intelligence firm that specialises in vehicle inspections. Given his association with the two other companies, Sreeram would likely spearhead the Tesla’s distinctive direct to customer retail model that bypasses the need for brick and mortar showrooms and service centres.
David Feinstein, meanwhile, has been hired as Global Senior Director, Trade Market Access at Tesla. Feinstein has been at Tesla for more than eight years, having joined as Manager, Global Trade Compliance – Supply Chain, back in 2012. He’s since worked at Tesla’s Finance team and contributed at various capacities, climbing the ranks over the past 5 years.
The development of the company forming a local subsidiary in India was reported by enthusiast Nikhil Chaudhary who manages the independent Tesla Club India account. Chaudhary said he has been keeping a track of the developments on the Ministry of Corporate Affairs website when the information showed up on Tuesday afternoon.
In mid-2020, Tesla became the world’s most valued automobile firm by market capitalisation as demand for its electric cars and its shares shot through the roof. Its CEO Musk also recently became the richest man on earth overtaking Amazon’s Jeff Bezos.
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