American electric carmaker Tesla has registered its Indian arm amid indications that the company is set to enter the country’s automobile market. According to a regulatory filing, the firm has registered Tesla India Motors and Energy Pvt Ltd with RoC Bangalore. The company has been registered as an unlisted private entity with a paid up capital of Rs 1 lakh. Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein have been appointed as directors of Tesla India, as per the Registrar of Companies (RoC) filing. Last month, Union Minister Nitin Gadkari had said Tesla is set to start its operations in the country in 2021 and would also look at setting up a manufacturing unit based on demand. Earlier on Tuesday, auto major Tata Motors denied tying up with the company for its India foray. In November last year, replying to a Twitter user who asked about the progress of the company’s India plans, Tesla CEO Elon Musk had said, “Yea..Next year for sure”.
Mahindra cuts over half of North America workforce
Indian automaker Mahindra & Mahindra Ltd has cut more than half of the workforce at its North American unit, two sources familiar with the matter told Reuters, due to the Covid-19 pandemic and an ongoing legal tussle.
The sources did not give a figure for the number of jobs lost at the business, which had over 500 employees in early 2020, according to its website. However, one of the sources said “hundreds of workers” had been laid off since mid-2020 as part of a restructuring, and that the cuts were as high as two-thirds of Mahindra Automotive North America’s (MANA) total staffing.
Positions include engineers and manufacturing jobs at its plant in Detroit that produces the off-road vehicle Roxor, as well as sales executives. The cuts come as Mahindra reviews its businesses in a drive to conserve capital and retain only those that make money or have the potential to be profitable.
MANA said in a statement it had furloughed some staff and laid off others due to the pandemic and an International Trade Commission lawsuit which led to an August “cease and desist” order for the Roxor business.