Tesla in talks with India's Tata Power for EV charging infrastructure: Report
Tesla Inc 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, CNBC-TV18 reported on Friday, citing sources.
Shares of Tata Power rose 5.5% 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.
Tesla will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters
The talks between Tata Power and Tesla are in the initial stages and no arrangements have been finalised yet, the report said.
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The two companies were not immediately available for comment.
In January, the US electric-car maker incorporated Tesla Motors India and Energy Private Ltd with its registered office in the southern city of Bengaluru, a hub for global technology companies.
Tata Motors Ltd, the carmaking unit of Tata Sons, last week denied any tie-up with Tesla, after media reports suggested the two companies were discussing a partnership.