NEW DELHI: Tesla has signed its first five-year lease deal in India for a showroom in Mumbai to sell imported electric vehicles in the country, Reuters reported.
According to the documents, the showroom will be located in the Maker Maxity building within the business and retail hub of Bandra Kurla Complex, near the city’s airport.
The deal started from February 16, 2025, with the company agreeing to pay approximately $446,000 in rent for the first year for a 4,003-square-foot (372-square-meter) space—nearly the size of a basketball court.
Tesla has long been interested in entering the Indian market. Although the company initially planned to establish itself in 2022, it delayed its entry due to regulatory hurdles, high import duties, and infrastructure challenges for electric vehicles (EVs).
After overcoming these obstacles, Tesla renewed its efforts last year to set up a retail presence in India, marking its return to one of the world’s fastest-growing car markets.
Trending
- Elon Musk-led DOGE Cancels Over 200,000 Credit Cards! Who Is Impacted & Top Reasons Explained
- Trump tariffs impact: Is a US recession likely and does India need to worry about it?
- Come out of protectionist mindset: Goyal to exporters
- Omaha’s oracle cash craze: Is Warren Buffett about to make his next big move?
- IT companies in reset mode amid slow growth in AI times
- ICAI may review financial statements of IndusInd Bank amid accounting discrepancies
- Watsa-backed Value Attics gets reinsurance licence
- At 7.3%, Kerala has highest retail inflation rate in February
- LG India gets Sebi nod for Rs 15,000-crore IPO
- Patanjali, DS Group buy Magma Insurance at Rs 4,500 crore valuation