Tesla accelerates India strategy with new office lease in Mumbai’s Kurla
In order to expand operations and develop a local ecosystem for future manufacturing and supply chain activities in India, Tesla has taken an important step by leasing a new office space in Kurla West, central Mumbai. This move highlights the company’s growing commitment to the Indian market. This new location is Tesla’s fourth office in India, joining its engineering facility in Pune, a registered office in Bengaluru, and a 30-seat office near Mumbai’s Bandra Kurla Complex (BKC), which it had secured on a one-year lease, according to an ET report. The recent lease is the second office deal Tesla has finalized within two months, signalling its increasing focus on preparing its operations in India. Tesla India Motor & Energy, the company’s Indian subsidiary, has signed a five-year lease for 24,500 square feet at the Lodha Industrial and Logistics Park in Kurla, developed by Macrotech Developers. Registered in May, the agreement features a starting monthly rent of Rs 37.53 lakh, amounting to over Rs 24 crore over the full lease term. The lease period began on April 20 and includes a rent-free period of one month and ten days, with rental payments scheduled to start on June 1, according to documents obtained from real estate analytics firm CRE Matrix. The rent is set to increase by 5% annually, while Common Area Maintenance (CAM) charges are fixed at Rs 10 per square foot, also escalating by 5% at the start of each financial year. This new lease follows Tesla’s securing of its first showroom in BKC, a key milestone in its anticipated launch in India’s expanding electric vehicle market. That leasing deal had set a national record with rentals of Rs 881 per square foot per month. Tesla’s recent activity highlighted its intensified approach to the Indian market since February, following Prime Minister Narendra Modi’s meeting with Tesla CEO Elon Musk during Modi’s visit to the US. Previously, Tesla had voiced concerns about high import duties in India. The company’s India entry has generated considerable anticipation, especially after recent policy adjustments by the Indian government aimed at encouraging international electric vehicle manufacturers to invest and establish local production facilities. While Tesla has not yet confirmed the location of its factory in India, steps like this new lease suggest that the company is quietly laying the groundwork for its future operations.
