Update, according to Reuters: Tata Power's electric vehicle charging business has not finalized any new agreements, the company said in a statement to stock exchanges. It also said the CNBC-TV 18 report was “factually incorrect”, but did not elaborate.
Tesla and India's largest integrated energy company, Tata Power, are exploring an agreement to build a charging infrastructure that will help the manufacturer actively enter the country's market and provide its customers with an enjoyable car ownership experience. For now, Tesla is planning to launch sales in India to assess the market.
CNBC-TV18 reported, citing unnamed sources, that negotiations between the companies are at an early stage and no agreements have been signed yet. Since this information is unofficial, it should be considered nothing more than a rumor.
Tata Power Limited is an Indian electric utility company based in Mumbai, Maharashtra, India and is part of the Tata Group. The core business of the company is to generate, transmit and distribute electricity. At the same time, the company is building a network of charging stations in India and plans to bring the total to 700 in the near future.
Tata Power has a wide network of charging stations in India and at the first stage of entering the country's market, Tesla can profitably cooperate with them. Since Tesla will reportedly only start trial sales in India to assess the market, it would be prudent to cooperate with the local operator before investing in its own charging infrastructure. Nevertheless, we know that Tesla has always strived to develop independently, without resorting to this kind of cooperation, in order to enter a country's market. Such collaborations have always been only with companies that built Tesla's proprietary Superchargers.
Recently, government officials have already confirmed plans for a Californian company to set up a manufacturing facility in India. The confirmation came a month after Tesla registered its India office in Bangalore and appointed the company's directors.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.