Tesla leases office in Pune’s Viman Nagar amid India foray talks
Tesla are meeting up with Indian government officials to discuss its foray into the country, the US-based electric vehicle manufacturer has picked up office space in Pune’s Viman Nagar locality. The company’s India arm, Tesla India Motor & Energy, has leased the office spread over 5,850 sq ft in a coworking center on the first floor of one of the towers in Panchshil Business Park. The lease will have a total term of five years starting from October 1 with a lock-in period of three years.
Tesla India will also hold an option to renew the lease for an additional period of five years, taking the total commitment to 10 years. The company will be paying initial monthly rentals of Rs 11.65 lakh, which will undergo a 5% escalation after every 12 months taking its total rental payout to Rs 7.72 crore through the entire lease tenure. The deal was registered on July 26, shows the documents accessed through CRE Matrix.
Tesla is keen on setting up an electric vehicle manufacturing factory in India and has been in discussion with the government with regards to this. The company had registered its Indian arm in Bengaluru in January 2021 signalling its plans to launch vehicles in the country. ET’s email query to Tesla India remained unanswered until the time of going to press.
After a meeting with Prime Minister Narendra Modi in New York in June, Tesla’s Chief Executive Officer Elon Musk had stated that the company may soon set up a manufacturing base in India. This is a key change in the company’s stance as a year ago, it had said that levies imposed by India on automobiles are the highest among large countries and it can only consider setting up a manufacturing factory here only if it succeeds with imported models. Tesla has been
. Read more on economictimes.indiatimes.com
