Tesla in negotiations with Tata Power to build EV charging infrastructure

Tesla is in talks with India's Tata Power to begin a partnership to set up EV charging infrastructure in the country, CNBC reported on Friday.

In a sourced report, the broadcaster said the talks were in their initial stages and that no arrangements have been made so far.

Tata Motors, which along with Tata Power is owned by Tata Sons, denied last week any tie-up with the US EV carmaker after rumours of a partnership surfaced.

Shares of Tata Power rose 5.5% to their best closing level since June 9, 2014 following the report.

Tesla is planning an expansion in India and recently announced that it would import and sell its Model 3 electric sedan in the country.

The US company is also working on setting up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters.