The Elon Musk-owned company is also expected to unveil its second showroom in Delhi’s Aerocity complex.
Model 3 is Tesla's most affordable EV, with a base price of around $40,000 (roughly Rs. 35 lakh)
Photo Credit: Bloomberg
Elon Musk's Tesla has finalised the location for its first showroom in India, according to a report. It is said to have leased a space in Mumbai's Bandra Kurla Complex, also known as BKC ahead of the company's anticipated foray into India's electric vehicle (EV) space. For years, the US-based EV maker faced hurdles related to localised factory investments, regulations, and high import taxes, factors which raised question marks over Tesla's arrival in the country.
However, reports now suggest it could finally introduce its fleet of EVs in India as it looks to take on not only global competitors such as BYD and MG but also local players including Tata Motors and Mahindra & Mahindra.
According to a Times of India report, Tesla's first showroom in India will occupy a 4,000 square feet space on the ground floor of a commercial tower in BKC. For this location, the EV maker is reportedly paying a rent of close to Rs. 900 per square feet, which translates to roughly Rs. 35 lakh per month. The property agreement is said to have a lease agreement for approximately five years.
Following the opening of its BKC showroom, the Elon Musk-owned company is expected to unveil its second one in Delhi's Aerocity complex, the report suggests. Tesla is likely to commence sales of its EVs in the third quarter of the year starting with three major Indian cities — Bengaluru, Delhi, and Mumbai.
These plans were first reported last month following discussions between US President Donald Trump, billionaire Elon Musk and Prime Minister Narendra Modi. Prior reports suggest that the initial batch of the Tesla cars, consisting of a few thousand units, will be arriving at the Mumbai port in the coming months. The EV maker is initially expected to import EVs from its Berlin plant before potentially localising production in the forthcoming years.
Tesla is said to target a price tag of under $25,000 (roughly Rs. 22 lakh) for the first Tesla car in the country. Notably, the Tesla Model 3, with a base price of $40,000 (roughly Rs. 35 lakh), is currently the most affordable model in the company's lineup.
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