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Tesla gains India business license, stock soars over 6%

Reddit: u/Teslapuddlelights

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Tesla has officially received a business license in India, which will give the company the ability to operate as a domestic automaker as a subsidiary of a foreign company. The announcement sent Tesla stock surging up over 6% after the company suffered its first negative day of 2021 on December 11.

According to the Ministry of Corporate Affairs (MCA) in India, Tesla India Motors and Energy will be operated in Karnataka, a state located in the southwest region of the country. The company was officially incorporated into the MCA database as an LLP on January 8th, and the Indian Government has allocated space for Tesla’s initial operation in the country. In late December, Tesla had applied for several business licenses, and it seems the requests were granted.

On top of the new developments, Tesla has also named three directors for the Indian subsidiary of the electric car and energy storage company. David Feinstein, who currently has the title of Global Senior Director at Tesla, is listed as one of the three directors. The other two are Vaibhav Taneja, who is the Chief Accounting Officer for Tesla, and Venkatrangam Sreeram, who serves as a director for car company Xenon and another company known as ClearQuote, which handles automated vehicle inspections.

Karnataka is known as a technological hub in India and is the home to many premier science and research centers that operate out of the country. A few notable examples are the Indian Space Research Organization, the Central Power Research Institute, and the Central Food Technological Research Institute. Additionally, the state is one of the biggest hubs for solar power in India, with over 2.2 gigawatts of solar paneling with an additional 1.2 gigawatts to be confirmed in projects that will be installed in the coming years. Perhaps, Tesla’s energy business will assist in this project, as its energy side has handled several international projects, including the Big Battery in South Australia.

The news sent TSLA stock soaring over 6%, as Tesla has long hinted toward the company’s presence in India. With the second-largest population of people in the world, India has a thirst for Tesla’s EVs and energy products. Enthusiasts have longed for Tesla to finally come to India as the company will attempt to combat excessive import taxes by establishing a home within the country.

Elon Musk indicated in late 2020 that Tesla would make it to India in 2021, and the CEO’s prediction has come true as operations could begin shortly. Rumors have indicated that Tesla’s online design studio will be activated in India within the coming days.

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Now that the automaker has finally established itself as a domestic company, there seem to be no roadblocks that will inhibit Tesla from making some serious waves in India in 2021 and beyond.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla cleared in Canada EV rebate investigation

Tesla has been cleared in an investigation into the company’s staggering number of EV rebate claims in Canada in January.

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Credit: Tesla

Canadian officials have cleared Tesla following an investigation into a large number of claims submitted to the country’s electric vehicle (EV) rebates earlier this year.

Transport Canada has ruled that there was no evidence of fraud after Tesla submitted 8,653 EV rebate claims for the country’s Incentives for Zero-Emission Vehicles (iZEV) program, as detailed in a report on Friday from The Globe and Mail. Despite the huge number of claims, Canadian authorities have found that the figure represented vehicles that had been delivered prior to the submission deadline for the program.

According to Transport Minister Chrystia Freeland, the claims “were determined to legitimately represent cars sold before January 12,” which was the final day for OEMs to submit these claims before the government suspended the program.

Upon initial reporting of the Tesla claims submitted in January, it was estimated that they were valued at around $43 million. In March, Freeland and Transport Canada opened the investigation into Tesla, noting that they would be freezing the rebate payments until the claims were found to be valid.

READ MORE ON ELECTRIC VEHICLES: EVs getting cleaner more quickly than expected in Europe: study

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Huw Williams, Canadian Automobile Dealers Association Public Affairs Director, accepted the results of the investigation, while also questioning how Tesla knew to submit the claims that weekend, just before the program ran out.

“I think there’s a larger question as to how Tesla knew to run those through on that weekend,” Williams said. “It doesn’t appear to me that we have an investigation into any communication between Transport Canada and Tesla, between officials who may have shared information inappropriately.”

Tesla sales have been down in Canada for the first half of this year, amidst turmoil between the country and the Trump administration’s tariffs. Although Elon Musk has since stepped back from his role with the administration, a number of companies and officials in Canada were calling for a boycott of Tesla’s vehicles earlier this year, due in part to his association with Trump.

Tesla excluded from incentives in Canada over Trump tariffs

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Tesla Semis to get 18 new Megachargers at this PepsiCo plant

PepsiCo is set to add more Tesla Semi Megachargers, this time at a facility in North Carolina.

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Credit: Tesla

Tesla partner PepsiCo is set to build new Semi charging stations at one of its manufacturing sites, as revealed in new permitting plans shared this week.

On Friday, Tesla charging station scout MarcoRP shared plans on X for 18 Semi Megacharging stalls at PepsiCo’s facility in Charlotte, North Carolina, coming as the latest update plans for the company’s increasingly electrified fleet. The stalls are set to be built side by side, along with three Tesla Megapack grid-scale battery systems.

The plans also note the faster charging speeds for the chargers, which can charge the Class 8 Semi at speeds of up to 1MW. Tesla says that the speed can charge the Semi back to roughly 70 percent in around 30 minutes.

You can see the site plans for the PepsiCo North Carolina Megacharger below.

Credit: PepsiCo (via MarcoRPi1 on X)

Credit: PepsiCo (via MarcoRPi1 on X)

READ MORE ON THE TESLA SEMI: Tesla to build Semi Megacharger station in Southern California

PepsiCo’s Tesla Semi fleet, other Megachargers, and initial tests and deliveries

PepsiCo was the first external customer to take delivery of Tesla’s Semis back in 2023, starting with just an initial order of 15. Since then, the company has continued to expand the fleet, recently taking delivery of an additional 50 units in California. The PepsiCo fleet was up to around 86 units as of last year, according to statements from Semi Senior Manager Dan Priestley.

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Additionally, the company has similar Megachargers at its facilities in Modesto, Sacramento, and Fresno, California, and Tesla also submitted plans for approval to build 12 new Megacharging stalls in Los Angeles County.

Over the past couple of years, Tesla has also been delivering the electric Class 8 units to a number of other companies for pilot programs, and Priestley shared some results from PepsiCo’s initial Semi tests last year. Notably, the executive spoke with a handful of PepsiCo workers who said they really liked the Semi and wouldn’t plan on going back to diesel trucks.

The company is also nearing completion of a higher-volume Semi plant at its Gigafactory in Nevada, which is expected to eventually have an annual production capacity of 50,000 Semi units.

Tesla executive teases plan to further electrify supply chain

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Tesla sales soar in Norway with new Model Y leading the charge

Tesla recorded a 54% year-over-year jump in new vehicle registrations in June.

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Credit: Tesla

Tesla is seeing strong momentum in Norway, with sales of the new Model Y helping the company maintain dominance in one of the world’s most electric vehicle-friendly markets.

Model Y upgrades and consumer preferences

According to the Norwegian Road Federation (OFV), Tesla recorded a 54% year-over-year jump in new vehicle registrations in June. The Model Y led the charge, posting a 115% increase compared to the same period last year. Tesla Norway’s growth was even more notable in May, with sales surging a whopping 213%, as noted in a CNBC report.

Christina Bu, secretary general of the Norwegian EV Association (NEVA), stated that Tesla’s strong market performance was partly due to the updated Model Y, which is really just a good car, period.

“I think it just has to do with the fact that they deliver a car which has quite a lot of value for money and is what Norwegians need. What Norwegians need, a large luggage space, all wheel drive, and a tow hitch, high ground clearance as well. In addition, quite good digital solutions which people have gotten used to, and also a charging network,” she said.

Tesla in Europe

Tesla’s success in Norway is supported by long-standing government incentives for EV adoption, including exemptions from VAT, road toll discounts, and access to bus lanes. Public and home charging infrastructure is also widely available, making the EV ownership experience in the country very convenient.

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Tesla’s performance in Europe is still a mixed bag, with markets like Germany and France still seeing declines in recent months. In areas such as Norway, Spain, and Portugal, however, Tesla’s new car registrations are rising. Spain’s sales rose 61% and Portugal’s sales rose 7% last month. This suggests that regional demand may be stabilizing or rebounding in pockets of Europe.

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