Tesla has signed a lease to open its first showroom in Mumbai as part of its strategy to enter the Indian market by selling imported electric vehicles. This move comes after the company dropped similar plans last year. The showroom is expected to serve as a key hub for Tesla’s sales and brand presence in India.
Lease details and location
According to registration documents, Tesla has secured a five-year lease for a 4,003-square-foot showroom in the Maker Maxity building, a prime business and retail location in Bandra Kurla Complex (BKC), near Mumbai’s airport. The lease, effective from February 16, 2025, has an initial annual rent of approximately $446,000, with a 5% annual increment, reaching around $542,000 by the fifth year.
Tesla’s renewed India focus
Tesla’s renewed push into the Indian market follows CEO Elon Musk’s meeting with Indian Prime Minister Narendra Modi in the US last year. Reports indicate that Tesla has also finalised a showroom location in New Delhi, signalling its broader expansion strategy.
India’s EV market potential
India is a growing market for electric vehicles (EVs), with increasing government incentives and consumer interest in sustainable mobility. Tesla’s entry could accelerate EV adoption and competition, especially with local automakers like Tata Motors and Mahindra already leading the sector.
(With Reuters inputs)
