For the longest time, there were talks about the world’s most sought-after automotive brand to arrive in India. It’s a brand that has stroked one’s imagination, fired up dreams and given a stellar offering to the contemporary ambit of urban commutation: the electric car space. Tesla has done more than just shape the imagination of the automotive enthusiasts in the country; it has offered a unique product that’s an amalgamation of both- style and substance, a high-value product that sits at the confluence of sophisticated design and technology.
Tesla’s electric cars aren’t merely electric cars; they are an indication of man’s surge toward greatness defying the restrictions and barriers toward engendering creativity.
A true home to the great legacy of Nikolai Tesla, Elon Musk cannot be doubted ever for simply raising the bar in the sphere of electric car making.
Earlier this year, when news came in that Tesla was finally here in India, with a registered office in the IT hub of Bangalore, one thing was clear: that a revolution was to strike a country besotted with premium cars and the big question about ‘mileage.’
To those who suffer from range anxiety, a great solution that would settle the debate was here. The only problem was- Tesla was still searching for an Indian partner that could supply it the automotive parts. Has an answer to that end been found?
Well, one reckons, very much so. How?
While it is not yet confirmed, it’s being strongly believed that Sandhar Technology could be one of the three main choices for Tesla toward the end of supplying automotive parts. Though, a final confirmation awaits that part, one has seen the stocks of the manufacturer with a net revenue of 28.9 crores in 2018, soar northward.
So what else do we need to know in this interesting development?
The following is what the very accurate Business Standard had to offer:
Shares of Sandhar Technologies rallied 13 per cent to Rs 294.30 on the BSE in intra-day trade on Monday on reports that US electric vehicle maker Tesla is in talks with at least three Indian suppliers to source critical parts as part of its plans to enter the Indian market.
The company is looking to source critical electronic, electrical and mechanical components, even as Sona BLW Precision Forgings (Sona Comstar), Sandhar Technologies and Bharat Forge are understood to be among the Indian firms already supplying components to it, the Economic Times reported.
The company is seeking critical electrical, electronic and mechanical components, the report said, citing people familiar with the matter. The parts include instrument panels, windshields, differential brakes, gears and power seats, the report said.
Besides, Sandhar Technologies, the stock of Soma Comstar surged 8 per cent to Rs 512.50, while Bharat Forge rallied 7 per cent to Rs 775 on the BSE. In comparison, the S&P BSE Sensex was up 0.71 per cent at 56,524 points at 09:41 am.
That being said, the big question at the moment is whether one of the key players in the auto ancillary industry has indeed struck gold with a possible tie-up with Tesla over the supply of key automotive parts?
One reckons, there’s still time left before that bit of news is confirmed. Soon then, one notes?