Elon Musk's Tesla leases office space in Pune with a monthly rent of Rs 11.65 lakh

Tesla India Motor & Energy Pvt Ltd has taken office space on lease for five years at Panchshil Business Park in Pune at a starting monthly rent of ₹11.65 lakh, its first real office setup in India. The 5,850 sq feet of space located on the first floor has been leased from the building operator Tablespace Technologies.The lock-in period for the lease is 36 months and the rent escalates 5 per cent annually. The rent commencement date is October 1, according to the registration details made available by data analytics firm CRE Matrix. The period until then will be used for fit-outs. 

According to reports, the Indian government wants the electric carmaker to emulate Apple in India and find local partners who can collaborate with Chinese suppliers. India is averse to having wholly-owned Chinese auto components companies setting up base in the country. Many parts, critical in the production of electric cars, are not available in India and have to be sourced from China.Tesla’s India arm was registered in Bengaluru in early 2021. In 2019, Musk had started expressing interest in setting up operations in India but the progress has been slow. Musk has also been lobbying with the Indian government to cut import duties on electric cars, as he wanted to import and sell Tesla cars in the country and gauge its success.