Elon Musk-run electric car-maker Tesla is all set to enter the country with the opening of its first showroom in the financial capital on Tuesday, launching Model Y and Model S vehicles in the presence of Maharashtra Chief Minister Devendra Fadnavis.
Although not manufacturing in the country at the moment, the electric automaker is opening its first showroom in Mumbai. Called an "experience centre", the Tesla showroom in the financial capital is situated in a 4,000 square feet retail space, which is closer to US tech giant Apple's flagship store in the Bandra Kurla Complex (BKC).
According to experts, the move comes as part of Tesla's broader expansion strategy in India. In June, the company leased a commercial space in Mumbai's Kurla West, which is expected to serve as a vehicle service facility.
Tesla now has four commercial properties in India, including an engineering hub in Pune, a registered office in Bengaluru, and a temporary office near BKC. Tesla India Motor and Energy Private Ltd had leased a 24,500-square-foot space in Mumbai's Kurla West to set up a service centre, located close to its upcoming showroom in BKC.
The electric car-maker has signed a lease and license agreement with Bellissimo in City FC Mumbai I Private to rent the space in Lodha Logistics Park. The agreement is for five years, with a starting monthly rent of Rs 37.53 lakh. Throughout the lease, Tesla will pay nearly Rs 25 crore in total, including a security deposit of Rs 2.25 crore, as per the documents.
Tesla has made it clear that its current interest lies only in selling its vehicles in India, not in manufacturing them at the moment. "They are not interested in manufacturing in India," Union Heavy Industries Minister H.D. Kumaraswamy said last month. He added that Tesla is planning to open showrooms in India purely for sales.
Meanwhile, the Centre has notified guidelines for its forward-looking EV scheme to enable fresh investments from global manufacturers in the electric car space.
Picture Courtesy: IANS
