Tesla, one of the leading electric vehicle maker, is finally entering the Indian market. Elon Musk, the Chief Executive Officer of the company had recently confirmed this development.

According to some media reports, the company has selected the state of Karnataka for its first production plant in India. The development related to the electric-car manufacturing unit was announced by the Karnataka state’s chief minister B S Yediyurappa.

Last month, Elon Musk had confirmed that Tesla was in talks with several states in India to open its office, showrooms, a factory, and a Research & Development center in India. The new announcement confirms that the company has chosen Karnataka for the factory.

Tesla has already incorporated Tesla Motors India and Energy Private Limited with its registered office in the city of Bengaluru in Karnataka. Bengaluru is a hub for global technology companies and is referred to as “Silicon Vallery of India.”

If the tweets by Elon Musk as to be believed, then Tesla is expected to start selling its cars in the Indian market by the end of this year. Ahead of the launch of the Tesla Model 3, the company had started taking pre-orders in India with a $1,000 deposit but it hasn’t been launched till date in India, after more than three years.

A few days ago, Tesla invested $1.5 billion in bitcoin and Elon Musk has said that the company could soon start accepting cryptocurrency as a form of payment.