Tesla Finalizes First Indian Showroom in Mumbai, Plans for Delhi Next

Elon Musk’s Tesla has finalized its first Indian showroom in Mumbai’s Bandra Kurla Complex, occupying 4,000 square feet. The company will pay approximately ₹35 lakh per month in rent under a five-year lease. Additionally, plans for a second showroom in Delhi are underway, and Tesla aims to introduce vehicles priced below $25,000 to the Indian market.

Elon Musk’s Tesla has finalized a deal to establish its first showroom in India, located in Mumbai’s upscale Bandra Kurla Complex (BKC). This showroom will span approximately 4,000 square feet within a commercial tower, and Tesla is reported to be paying one of the highest commercial rents in the area at ₹900 per square foot, equating to about ₹35 lakh monthly.

The lease in BKC, set for five years, arrives shortly after Musk’s meeting with Prime Minister Narendra Modi during his visit to the United States. Concurrently, Tesla is also planning to set up a second showroom in Delhi’s Aerocity neighborhood.

Following Musk’s discussions with PM Modi, where topics included technology, innovation, and governance reforms, Tesla listed numerous job openings in India. The company has plans to import vehicles from its Berlin factory for an initial introduction, aiming to price them under $25,000 in the Indian market.

Tesla’s cheapest offering in the U.S. begins at $35,000 (around ₹30.4 lakh), with the Model 3 being the most affordable model available. Musk has not committed to local manufacturing in India yet but is reportedly sourcing over a billion dollars in components from the country, with expectations of significantly increasing this amount in the near future.

Tesla’s strategic move to enter the Indian market highlights its commitment to expanding globally, with plans for showrooms in key metropolitan areas. The high rental costs and initial import plans suggest a serious investment in India’s growing electric vehicle sector. With significant sourcing commitments from India, Tesla is poised for a substantial presence in this emerging market.

Original Source: www.livemint.com