Summary: Tesla has taken a major step towards its India debut by leasing a 4,003-square-foot showroom in Mumbai’s Bandra Kurla Complex (BKC). The company will pay an annual rent of Rs 3.87 crore, with a record-setting monthly rental of Rs 881 per square foot, surpassing Apple’s previous high. This lease agreement with Univco Properties LLP marks Tesla’s concrete entry into the Indian market, indicating potential sales and service operations soon. With India pushing for EV adoption, Tesla’s move is expected to impact the local automotive industry significantly, while discussions for a manufacturing facility in India continue.
Elon Musk-led electric vehicle (EV) giant Tesla has taken a significant step toward its much-anticipated entry into India. The company has reportedly signed a lease for its first showroom in Mumbai’s prestigious Bandra Kurla Complex (BKC), signaling its intent to establish a strong presence in the country.
According to documents reviewed by the Economic Times, Tesla will occupy a 4,003-square-foot space at Maker Maxity, a premium commercial complex in BKC. The company will pay an annual rent of approximately Rs 3.87 crore for the showroom, with the lease agreement spanning five years. Tesla’s India arm, Tesla India Motors & Energy, has signed the agreement with Univco Properties LLP, securing a prime ground-floor location at 2 North Avenue in the high-profile business district.
The deal sets a new benchmark for commercial leasing in India, with Tesla agreeing to a monthly rental of Rs 881 per square foot—surpassing the previous national record of Rs 738 per square foot, set by Apple for its flagship store earlier this year. This move underscores Tesla’s commitment to establishing a premium brand presence in India, a market poised for significant EV adoption.
Tesla’s plans for India have been in the works for several years, with the company engaging in discussions with the Indian government over import duties and local manufacturing incentives. The leasing of this showroom marks a concrete step in Tesla’s expansion strategy, suggesting that the company may soon launch sales and service operations in the country.
With India aggressively pushing for EV adoption through policy incentives and infrastructure development, Tesla’s entry is expected to have a transformative impact on the local automotive industry. The company is also reportedly in talks with several state governments to set up a manufacturing facility in India, further strengthening its long-term vision for the market.
Tesla’s choice of BKC, Mumbai’s prime commercial hub, reflects its strategy of targeting high-net-worth individuals and early adopters of premium EV technology. The showroom is expected to serve as a focal point for Tesla’s brand experience, offering potential customers a firsthand look at its cutting-edge vehicles and technology.
As Tesla gears up for its India debut, the industry and consumers alike are keenly watching how the company will navigate the competitive landscape. With domestic automakers ramping up their EV offerings and global players eyeing India’s growing market, Tesla’s entry marks the beginning of an exciting new chapter in India’s electric mobility revolution.
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Last Updated on Thursday, March 6, 2025 12:42 pm by Aarti Kumari
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