According to sources, Tesla is exploring an arrangement with Indian conglomerate Tata Sons' power generation unit, Tata Power, to set up charging infrastructure for electric vehicles in the country.
The talks between Tata Power and Tesla are in the initial stages and no arrangements have been finalised yet. Tesla will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document.
Shares of Tata Power rose 5.5 percent to their best closing level since June 9, 2014 after the report, which comes as the Palo Alto-based electric-car maker gears up for an India launch later this year with plans to import and sell its Model 3 electric sedan in India.
In January, the US electric-car maker incorporated Tesla Motors India and Energy Private with its registered office in the southern city of Bengaluru, a hub for global technology companies. Though, Tata Motors, the car making unit of Tata Sons, last week denied any tie-up with Tesla, after media reports suggested the two companies were discussing a partnership.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
