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Elon Musk's tesla

Elon musk ‘s Tesla will be seen in India very soon in 2024

Elon Musk’s Tesla has leased office space in Pune, India marking its first office in the country.

Elon Musk’s Tesla has rented an office space in Pune for five years. The monthly rent is Rs 11.65 lakh, and the lease deal includes a lock-in period of 36 months with a 5% per annum escalation clause. This move is part of Tesla’s expansion plans in the region.

After a meeting between Prime Minister Narendra Modi and Elon Musk in the US, Tesla India Motors and Energy Private Limited leased office space in Pune’s Panchshil Business Park.

This marks a major step towards Tesla’s entry into the Indian market, especially in the electric vehicle (EV) industry.

Tesla India Motors and Energy Private Limited has recently leased office space from Tablespace Technologies Private Limited for a period of five years. The monthly rent for the office is Rs 11.65 lakh, and a security deposit of Rs 34.95 lakh was made for the entire lease duration.

It is coming in the news that the lease comes with a lock-in period of 36 months and a 5% annual escalation clause. Rental payments will begin from October 1, 2023.

In January, It made a big move in India by registering its Indian subsidiary, Tesla India Motors and Energy, in Bengaluru. They also appointed three directors for the company. In February, the former Chief Minister of Karnataka, BS Yediyurappa, announced that It will open first factory in the state. At the same time, they set up a Research and Development unit in Bengaluru.

Tesla has made significant progress in India.

In July, the company hinted at its ambition to manufacture up to 500,000 electric vehicles (EVs) annually, offering them at prices starting from Rs 20 lakh. Such an achievement has the potential to significantly boost India’s burgeoning EV market.

Moreover, It had previously proposed establishing a factory in India in May, with the aim of manufacturing electric vehicles for both domestic consumption and export. These developments showcase the company’s commitment to expanding its presence and contributing to India’s transition towards sustainable transportation.

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