Tesla is coming to India: Check its first showroom location, monthly rent and other details

American EV maker Tesla has rented a 4,000-sq ft space in the Bandra Kurla Complex business district to house its maiden showroom in the country, it was revealed on Wednesday. According to records released by CRE Matrix, the business, which is led by billionaire Elon Musk, would be paying a monthly rent of more over Rs 35 lakh for the premises, which also includes a few parking spaces. The much anticipated Tesla debut might be a prelude to the innovative automaker's ultimate intentions to produce or assemble in India.

According to the records, the space at Maker Maxity has a five-year contract, and the monthly fee would increase to around Rs 43 lakh with a 5% annual rent increase. The ground floor property, which is leased by Univco Properties, is situated quite near to the first Apple Store in India. On February 27, Univco and one of Tesla's subsidiaries with offices in Pune registered a rental agreement. According to the records, a security deposit of Rs 2.11 crore has been paid, and the monthly rent per square foot at the beginning rental is Rs 881.

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Recently, Tesla has posted nearly two dozen mid-level job openings in India, including positions for store managers, service managers, and customer relationship managers. India’s electric vehicle market is rapidly growing, fuelled by government incentives and rising consumer demand for sustainable transport. Tesla’s entry is expected to boost EV adoption and intensify competition with established Indian players like Tata Motors and Mahindra.

How was Tesla established?

Engineers Martin Eberhard and Marc Tarpenning established the sustainable energy and electric vehicle (EV) startup Tesla, Inc. in the United States in 2003. The business, which bears the name of renowned inventor Nikola Tesla, was founded to hasten the global switch to renewable energy. In 2004, Elon Musk became a shareholder and chairman of Tesla before rising to the position of CEO and spearheading the company's explosive expansion. When the Roadster, the first all-electric sports automobile, was introduced in 2008, Tesla attracted international attention. The Model S sedan, Model X SUV, and Model 3, which rose to the top of the global electric vehicle sales charts, came next.

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