Tesla Expands Footprint in India with Delhi and Gurugram Leases

Electric vehicle manufacturer Tesla, led by Elon Musk, is broadening its operational reach in India. The company recently secured a 9-year lease for an 8,200 sq ft commercial space at Delhi's Aerocity, with a starting rent of Rs 17.22 lakh per month. This strategic move is indicative of Tesla's ambitions in the Indian market.

In another significant development, Tesla has acquired a substantial 33,000 sq ft area in Gurugram's Orchid Business Park. This space will potentially accommodate a service center and sales outlet, marking a substantial uptick in Tesla's physical presence in the country. The Gurugram lease also spans nine years, with a noteworthy annual rent escalation clause.

These developments come on the heels of Tesla's retail debut in Mumbai's business district, where the company is marketing the China-imported 'Model Y'. The firm is navigating high import duties, setting the vehicle's price around Rs 60 lakh. These strategic property acquisitions underscore Tesla's commitment to establishing a robust footprint in India's burgeoning electric vehicle sector.

(With inputs from agencies.)