Tesla leases space in Gurugram for its 2nd Indian showroom
What's the story
Tesla has leased a 33,475 square feet retail and service center space in Gurugram. The facility is located at Orchid Business Park on Sohna Road and will serve as the firm's second showroom in India after Mumbai. The lease agreement was signed for a monthly rent of ₹40 lakh with a security deposit of ₹2.41 crore for nine years, according to CRE Matrix data.
Expansion
Gurugram showroom to be almost 10 times bigger than Mumbai
The Gurugram showroom is almost 10 times bigger than the one in Mumbai. Earlier, Tesla had signed a deal with Maker Group to rent space on the ground floor of 2 North Avenue at Maker Maxity for ₹881 per square foot. In comparison, the company will pay ₹120 per square foot in Gurugram.
Market penetration
Tesla's plans in India
Tesla has been actively looking for ways to navigate the Indian market with its popular electric vehicles (EVs). The company has been in talks with government authorities, scouting showroom locations, and assessing potential manufacturing sites. These efforts are part of Tesla's plan to establish a strong presence in one of the world's fastest-growing automobile markets.
Future plans
Plans for EV manufacturing plant in Maharashtra
Tesla has also started looking for land to set up an EV manufacturing plant, with Maharashtra being the first identified destination. The company's plans gained momentum after CEO Elon Musk met Prime Minister Narendra Modi earlier this year. Reports suggest that Musk has requested lower tariffs on imported EVs as part of these discussions.