News: Tesla in talks with India’s Tata Power for EV charging infrastructure: report.
BENGALURU (Reuters) – Tesla Inc is currently reviewing an agreement with Tata Power generating set of Indian conglomerate Tata Sons to set up electric vehicle charging infrastructure in the country, CNBC-TV18 reported on Friday, citing sources.
Tata Power’s shares rose 5.5%, according to the report, to their best closing level since June 9, 2014. The Palo Alto-based electric car maker is preparing for a launch in India later this year and plans to import its model and sell 3 electric sedan in India.
According to a government document from Reuters, Tesla will build an electric car production facility in the southern Indian state of Karnataka
Talks between Tata Power and Tesla are in the early stages and no agreements have been reached, the report said.
Neither company was immediately available for comment.
In January, the US electric car maker founded Tesla Motors India and Energy Private Ltd, based in the southern city of Bengaluru, a center for global technology companies.
Tata Motors Ltd, Tata Sons’ automotive industry, denied any association with Tesla last week after media reports indicated the two companies were discussing a partnership.
Reporting by Nallur Sethuraman in Bengaluru; Arrangement by Krishna Chandra Eluri and Vinay Dwivedi
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