Tesla Expands Footprint in India with Delhi and Gurugram Leases

Tesla has leased 8,200 sq ft in Delhi's Aerocity and 33,000 sq ft in Gurugram for retail and service operations. The Delhi space has a starting rent of Rs 17.22 lakh per month, increasing by 15% every 36 months. The Gurugram property has a starting rent of Rs 40 lakh with a 4.75% annual escalation.

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.)