Tesla Expands India Presence With New Office In Maharashtra

Ahead of India Foray, Tesla’s Country Head Quits: Report

SUMMARY

Tesla has leased a 30 seater working space near the Bandra-Kurla Complex with a monthly rent of INR 3 Lakh

The move comes months after its leased a 4,003 sq ft space for its new showroom in BKC with an annual fee of INR 3.87 Cr

Going forward, the US-based EV maker plans to invest $2 Bn in India and is in talks with Gujarat, Tamil Nadu and Maharashtra to set up its EV plant

Elon Musk-led Tesla is bolstering its presence in India by leasing office space near Mumbai’s Bandra-Kurla Complex (BKC).

An ET report said that the global EV maker has leased a 30 seater space in the co-working hub of Phoenix Market City at a monthly rent of INR 3 Lakh.

A source close to the development told the publication that the new working space will help the company to support its local hiring efforts, regulatory coordination, vendor meetings and other backend processes in India.

As per the website, the company is hiring for about 30 positions in India in various functions.

The report further said that the company has signed a one year agreement with a three month lock-in period in a deal with coworking space entity EFC. Proptech platform Flexo Spaces is the transaction advisor to Tesla in the deal.

Inc42 has reached out to Tesla India, EFC and Flexo Spaces for comments on the development. The story will be updated based on the response.

The development comes almost a month after Tesla India and Motors leased a 4,003 sq ft space for its new showroom in BKC with annual fee of INR 3.87 Cr. The deal has been signed with commercial complex Maker Maxity.

With its India India entry just around the corner, the global EV manufacturer aims to capture the Indian EV market which is currently pegged at $54 Bn and is poised to become a $132 Bn opportunity by 2030 in the country.

Centre’s push to the Indian EV market has played a big role in Tesla’s foray into the country. Last year, the Indian government brought changes to its EV policy and lowered tariff duties on EV four wheeler manufacturers with a minimum investment of $500 Mn.

The company is already in talks with various state governments including Gujarat, Tamil Nadu and Maharashtra to set up its EV plant with investment of up to $2 Bn.

Tesla is making its India foray at a time when the country is seeing a huge adoption in the EV four wheeler segment in the country. Last year alone, India registered 1.47 Lakh four wheeler EVs, more than doubled from 73K registered in 2023.

The company will be locking horns with Tata Motors, Toyota and MG Motors who emerged as top three market leaders in the space last year. Vietnamese EV maker VinFast is already set to open its Tamil Nadu plant by June this year as part of its $2 Bn investment in India.