Tesla has officially entered the Indian market by renting a 4,000-square-foot space in Mumbai’s Bandra Kurla Complex (BKC). This move marks a significant step for the American EV giant, led by Elon Musk, as it looks to establish its presence in the country.
Prime Location and Lease Details
Notably, Tesla has secured a showroom in Maker Maxity, a commercial hub near India’s first Apple Store. According to CRE Matrix, the company will pay a starting rent of ₹35 lakh per month. Over the next five years, the rent will increase by 5% annually, eventually reaching ₹43 lakh per month. Additionally, Tesla has deposited ₹2.11 crore as a security deposit.
Agreement Finalized with Univco Properties
Furthermore, Tesla has leased the property from Univco Properties. A Tesla subsidiary based in Pune registered the rental agreement on February 27. The lease also includes some parking spaces, adding convenience for customers.
A Step Toward Future Expansion
Tesla’s arrival in India has been highly anticipated. Consequently, many believe that opening a showroom could be a precursor to local manufacturing or assembly operations. This development signals Tesla’s growing interest in tapping into India’s expanding EV market.
