Tesla Makes Power Move in India: First Office Space Secured in Pune!
PuneNow, Aug 02 2023: Tesla, the renowned US-based electric vehicle manufacturer, has made a significant power move in its foray into the Indian market by leasing a Pune office in Viman Nagar.
The company’s Indian subsidiary, Tesla India Motor & Energy, has taken up a managed office space in Pune’s Viman Nagar locality, marking a decisive stride in its efforts to establish a presence in India. The office is located on the first floor of one of the towers in the prestigious Panchshil Business Park, a prime commercial hub in Pune.
The space spans 5,850 sq ft and has been leased from building operator Tablespace Technologies for a period of five years. The lease has a lock-in period of 36 months and the rent, starting from October 1, will escalate 5% annually. The effective starting rent works out to ₹199 per sq ft a month. A provision for renewing the lease for another five years is also included.
The strategic location of Pune, known for its IT and automotive industries, provides an advantageous position for Tesla to explore the burgeoning Indian electric vehicle market.
ALSO READ | Tesla India Launch: Under-20 Lakh EV Coming Soon, Says Elon Musk
The move comes amidst high-level talks between Tesla executives, including senior public policy and business development executive Rohan Patel and vice president for supply chain, Roshan Thomas, and Indian government officials. The discussions focus on overcoming regulatory and logistical challenges as Tesla plans to emulate Apple in India by finding local partners to collaborate with Chinese suppliers.
Last month, Tesla founder Elon Musk met with Prime Minister Narendra Modi, reportedly confirming that he was ‘fine-tuning’ his plans for an India entry, including investing in a car-making facility. “We are just trying to figure out the right timing … I am confident that Tesla will be in India and will do so as soon as humanly possible,” Musk was quoted as saying.
Tesla, known for its cutting-edge technology and commitment to sustainability, is expected to revolutionize India’s automotive sector and accelerate the adoption of electric vehicles nationwide. The US carmaker has expressed interest in building a factory in India that would produce a low-cost electric vehicle priced at $24,000, approximately 25% cheaper than Tesla’s current entry model. This would cater to both the Indian market and export.
Tesla’s entry into India has been a subject of interest since 2019, with the company registering its India arm in Bengaluru in early 2021. There were earlier reports of Tesla setting up its first office in Mumbai’s Lower Parel area and opening a retail showroom in the city, but no concrete progress was made. Now, with the lease of office space in Pune, the journey seems to be truly on track. It is indeed true that Tesla has made a power move with this Pune office!
