US car giant Tesla to set up manufacturing unit in K'taka: CM

US-based electric car giant Tesla would set up its manufacturing unit in Karnataka, Chief Minister of the state B S Yediyurappa said on Saturday.

''American firm Tesla will set up the car-manufacturing unit in Karnataka,'' the Chief Minister said.

In 2021-22, infrastructure development at a cost of Rs 1.16 crore would take place in the state and Rs 14,788crore would be released for the second phase of the MetroRail work.

The Chief Minister said an industrial corridor would be developed in Tumakuru at an investment of Rs 7,725 crore creating 2.8 lakh jobs.

Hailing the Union Budget presented recently as historic, Yediyurappa said it would pave the way for a USD five-trillion economy by 2025.