The rent will increase by five percent every year, with a total expense over five years of over $2.5 million (roughly Rs. 21 crore).
The Tesla showroom space has been booked close to an Apple retail outlet
Photo Credit: Bloomberg
US electric carmaker Tesla has signed a lease deal to open its first showroom in Mumbai, as it moves towards a goal to sell imported cars in India, registration papers show, after it dropped similar plans last year.
Tesla did not immediately respond to a request for comment.
The papers show the company has signed a five-year lease from February 16, 2025, and will pay rent of about $446,000 (roughly Rs. 3.88 crore) for the first year for 4,003 square feet (372 square meters), almost the size of a basketball court.
The rent will increase by 5 percent every year, with a total expense over five years of over $2.5 million (roughly Rs. 21 crore), according to the registered lease document provided to Reuters by analytics firm CRE Matrix.
The showroom will be situated in the Maker Maxity building in the business and retail hub of Bandra Kurla Complex near the city's airport, according to the papers.
Reuters reported last month that Tesla had selected locations for two showrooms in New Delhi and Mumbai, days after the carmaker's chief, Elon Musk, met Indian Prime Minister Narendra Modi in the US. Musk is a close ally of US President Donald Trump and is heading up his so-called Department of Government Efficiency.
Tesla has since posted close to two dozen mid-level jobs in India, including store, service and customer relationship managers.
The Tesla showroom space has been booked close to an Apple retail outlet in a nearby mall of Jio World Drive, run by billionaire Mukesh Ambani's Reliance.
While Tesla plans to sell imported cars from its India showrooms, tariffs of over 100 percent still weigh on the carmaker, with Musk repeatedly complaining that they are among the steepest in the world.
Musk has found support from Trump, who has repeatedly railed against India's high taxes, especially on automobiles, and has threatened reciprocal action.
Reuters reported earlier on Wednesday that the United States wants India to eliminate tariffs on car imports under a proposed trade deal between the two nations, but New Delhi is reluctant to immediately bring down such duties to zero even as it considers further cuts.
© Thomson Reuters 2025
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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