INDIAN MOTORS TO HELP TESLA SPREAD FALCON WINGS

Revenue Profit (figures in ~ crore)

A bit of India will make its way to the iconic Falcon Wing doors of Tesla’s Model X sports utility vehicle (SUV).

Chennai-based Igarashi Motors will supply three different kinds of motors to the Palo Alto-headquartered auto maker, albeit indirectly. At an analyst call on Saturday, P Mukund, managing director of Igarashi Motors India, confirmed this.

“Of the three types of motors we will supply to the Tesla platform, one will be for the Falcon Wing doors,” he said.

Mukund added, “Another motor will be used in the door-level retractor, and the third one for steering adjustments.” He also said the supply to Tesla will not be direct, but through an intermediary.

Earlier Tesla had accepted Kranti Industries, a Punebased auto component manufacturer, as a Tier-II supplier. Kranti supplies differential housing — a casing that houses a differential or a motor — for transmission in Tesla’s existing models, through Italian auto component major Oerlikon Graziano.

In 2013, Blackstone India took over Chennai-headquartered auto components company Agile Electric, along with its listed subsidiary Igarashi Motors India for ~ 660 crore (about $110 million).

Igarashi Motors is primarily engaged in the production and export of permanent magnet DC motors, specifically for passenger cars.

During the year ended March 2017, its revenue stood at ~507.8 crore as against ~444.9 crore a year ago. Net profit rose to ~73.8 crore from ~63.6 crore. In April last year, Tesla had said it planned to enter India with its Model 3 in 2017.

Tesla Founder Elon Musk had announced that it will manufacture its cars in the country. However, no deadline has been set as to when it would happen.

It is reported that there are a few bookings from India of its new Model 3, which will be imported.

Musk has said he was talking to the government, asking for concessions or reduction in the import duty on cars. Currently, the duty is at 60 per cent.

The government, keen on Tesla setting up a plant in the country, has promised incentives, but has not responded to this request.

Chennai-based Igarashi Motors will supply three kinds of motors to Tesla, albeit indirectly