For its first office in India, Tesla rents space in Pune. The lease for the office space has been signed, with a base monthly price of Rs. 11.65 lakh.
For its first actual office setup in India, Tesla India Motor & Energy Pvt Ltd has leased office space in Panchshil Business Park in Pune for five years at a starting monthly cost of 11.65 lakh.
The building’s owner, Tablespace Technologies, has leased the 5,850 square feet of space on the first floor. The contract has a 36-month lock-in period, and the rent increases 5% yearly. The registration information made accessible by data analytics company CRE Matrix indicates that the rent will start to be paid on October 1st. Fit-outs will be done during the time leading up to that.
The monthly effective beginning rent equals $199 per square foot. The lease can be extended for an additional five years.
Elon Musk, the founder of Tesla, met with Prime Minister Narendra Modi last month and reportedly stated that he was “fine tuning” his entry into India and investing in a manufacturing unit there.
India’s goals:
Reportedly, the Indian government wants the electric vehicle manufacturer to follow Apple’s lead in the country and identify local partners who can work with Chinese suppliers. Wholly-owned Chinese car component companies are not welcome in India, according to the country. Many parts that are necessary for the manufacture of electric vehicles cannot be found in India and must be imported from China.
In the beginning of 2021, Bengaluru registered Tesla’s India subsidiary. Musk first expressed interest in starting businesses in India in 2019, but things have moved slowly since then.
There have been no developments so far regarding the company’s plans to create a retail showroom and establish its first office in India in Mumbai’s Lower Parel neighbourhood.
Musk has also been urging the Indian government to lower import taxes on electric vehicles because he wants to bring Tesla vehicles into the nation and test the market there.
