Tesla to Set Up in India Starting October
Tesla will officially begin work in India starting in October by opening an office. This hints that negotiations with the government are going well. As Tesla previously intended, it will settle in Pune, Maharashtra.
Tesla starts work in India in October
The Texas-based manufacturer will officially launch in India this October. The company will open its office in Pune, Maharashtra. Tesla previously also planned to settle in this state, and throughout 2021 and 2022, the company’s cars were repeatedly seen there testing. The manufacturer remained true to its choice and began a second attempt to enter the Indian market with Maharashtra.
Tesla opens office
Starting in October, the company will be headquartered in Tower B of Panchshil Business Park at Viman Nagar, Lohegaon, Pune, Maharashtra. From there, Tesla will manage its automotive and energy businesses. The manufacturer, operating under the name Tesla India Motor & Energy, is leasing the space, according to the Free Press Journal.
The company is leasing 5,850 sq. ft. of space from Tablespace Technologies for Rs 11.65 lakh (about $14,000) per month. The net usable area is 3,150 sq. ft., according to a document provided by CRE Matrix, a real estate data analytics firm. The lease deed was registered on July 26 with a stamp duty of Rs 34.95 lakh (about $42,250).
Along with the office, the company will receive five parking spaces for cars and 10 parking spaces for two-wheelers. The lease term is 60 months or five years with a fixed period of 36 months or three years. The rent will increase by 5% annually. The floor plan shows that there will be three meeting rooms and 41 staff spaces.
Tesla is negotiating with the government to set up a plant in India
According to multiple reports, Tesla is in talks with the Indian government to set up a manufacturing facility in the country. Representatives of the company have repeatedly met with high-ranking local officials. Prime Minister Narendra Modi also met with Elon Musk during his US business trip.
That Tesla has planned to open an office in India is a good sign. This may hint that this time, the negotiations between the manufacturer and the government are going better than in 2022. At that time, Tesla did not yet have an affordable car that would be in demand in the local market. Therefore, there was no point in opening a manufacturing facility there, which the Indian government wanted. Now, the company has developed a new car model, costing up to $25,000. Such a model should be popular both in the local market and in foreign markets, where a Giga India could supply.