Tata Sons Chairman N Chandrasekaran has reportedly clarified that there is “no dialogue” with the US-based electric carmaker Tesla for a partnership in the passenger vehicle (PV) business in India, emphasizing that “We will do it on our own.”
Earlier, Tata Motors’ Electric Mobility Twitter handle had created a buzz when it dropped hints of a possible tie-up of the Indian auto firm with billionaire entrepreneur Elon Musk-owned car company Tesla—the world’s most valuable automaker.
“There is no dialogue with Tesla. With us, there is nothing,” Chandrasekaran told reporter ,mentioning the aggressive plans of Tata Motors and its British luxury unit Jaguar and Land Rover in the electric vehicle (EV) segment.
The Tata Sons chief said products under Tata Motors and JLR have been performing well, and there is no need for any outside partner at this time.
There had been widespread speculation in the media about an impending partnership between the Tata Group and Tesla as the latter is now entering the Indian market.
The conjecture had also contributed to the spike in the share price of Tata Motors. But it had also moved up due to the strong performance of the company’s car business in India.
More fuel was added to the speculation when the official twitter handle of ‘Tata Motors Electric Mobility’ sent out a cheeky tweet on January 15, positively commenting on rumours of the Tesla partnership through the lyrics of an old Hindi film song (though the tweet was deleted promptly as it started to go viral).
‘Aajkal tere mere pyaar ke charche har akhbaar mein, Sab ko malum hai aur sab ko khabar ho gayi!’ This was the tweet that was sent out from the twitter handle @TatamotorsEV, and was deleted soon.
In October, Tesla chief executive Musk had said the EV manufacturer would enter the Indian market this year. “Next year for sure,” he had said while replying to a question on Tesla’s India plans on Twitter.
Tesla has registered a company in Bengaluru in a step towards entering India, possibly as early as mid-2021. Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein have been named as directors of Tesla’s India subsidiary, according to a regulatory filing.
Meanwhile, the market has given a thumbs-up to Tata Motors’ electric version of Nexon mini SUV and the automaker is planning more versions, including for Altroz hatchback. More importantly, JLR will be completely electric by 2025. Chandrasekaran further mentioned that all electric vehicles of JLR will be in India as well.