KEY HIGHLIGHTS
- The first Tesla showroom is set to open Mumbai's Bandra Kurla Complex.
- The US-based firm had earlier listed out hirings online.
- Tesla is said to occupy a 400 sq ft place, with a lease agreement term of five years.
There has been a lot of chatter around the potential entry of Tesla over the last 1-2 years, and the plans seem to be getting more and more concrete now. The US-based firm had even listed out hirings earlier, and it now looks set to open its first showroom in India.
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Tesla Opening Its First Showrooms; Details
According to reports, Tesla seems to have agreed on a lease to open its first showroom in Mumbai's Bandra Kurla Complex. It will occupy a 4000 sq ft space on the ground floor of a commercial tower, where it will showcase its car lineup. The monthly lease is said to be around Rs 35 lakh per month, with the term lasting five years. The firm is also expected to open a second outlet in Delhi's Aerocity.
These developments have occured shortly after Prime Minister Narendra Modi met Elon Musk, CEO, Tesla, in Washington. This was also followed by Tesla listing out hirings for multiple positions. If things go to plan, Tesla could possibly go forward with a launch in the coming months. During that time, there will also be some more clarity on the India-US Bilateral Trade Agreement, which was announced after the PM's meeting with US President Donald Trump.
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However, while the Govt levies 110% duty on fully imported vehicles, Trump is said to have flagged it as a concern, claiming that high tariffs are forcing Tesla to consider setting up a plant in India. Yet, the US President also says that it would be 'unfair' if the car maker went ahead and set up a plant in India. According to reports, the Govt has also drafted a new policy based on Elon Musk's pitches for lower tariffs.
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Verdict
There seem to be a few more challenges regarding Tesla's entry in India, mostly centred around the high tariff rates. However, based on the developments going around recently, we can expect interesting things from Tesla in the coming few months.
