Tesla Motors (TSLA) rose 4% in late trading on Wednesday after announcing the hiring of a former Lamborghini executive to spearhead its return to the Indian market.

Separately, Norway's sovereign wealth fund has opposed Elon Musk's $1 trillion compensation package at Tesla.

The appointment signals Tesla's renewed commitment to India following previous regulatory hurdles. The electric vehicle maker had paused its India plans last year amid high import taxes and lack of policy support.