Tesla leases its first office in India in Pune's Viman Nagar: Here's how much rent the EV maker will be paying

Tesla's first Office in India: Electric vehicle manufacturer Tesla's Indian subsidiary — Tesla India Motor and Energy Pvt Ltd — has leased its first office space in India in Pune, Maharashtra. This comes days after Tesla's executives reportedly met with Invest India representatives to discuss setting up of the EV behemoth's manufacturing unit in India. As per reports, Tesla's Indian subsidiary has leased the office at Panchsheel Business Park in Pune's Viman Nagar for a tenure of 5 years.  

Tesla's first office in India: Details, rent 

According to data released by real estate data analytics company CRE Matrix, Tesla India has taken a space of 5850 square feet on the first floor of B Wing, Panchsheel Business Park. According to the document, Tesla has entered into an agreement with Tablespace Technologies Pvt Ltd to rent the office space on a 5-year lease. 

As far as the rent is concerned, Tesla will be paying Rs 11.65 lakh per month as rent for this office. And the rent amount can be increased by 5 per cent every year. Apart from this, the company has also furnished a security deposit of Rs 34.95 lakh to lease the space. This security deposit — valid for a period of 60 months — will include parking space for 5 cars and 10 motorcycles. 

As per the documents, the lease tenure will begin from 1 October, 2023. Panchsheel Park is situated roughly 3 kilometers away from the Pune International Airport. 

Tesla's plans in India

Prime Minister Narendra Modi had met Tesla CEO Elon Musk during his official US tour in June, where the maverick billionaire had shown interest in setting up an eletric vehicle manufacturing facility in India. Showing keen interest in bringing Tesla to India, Musk said, “I am confident that Tesla will be in India and will do so as soon as humanly possible.” Musk had also said that PM Modi was "pushing us to make significant investments in India, which is something we intend to do."

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After reports stated that Tesla had shown interest in setting up a factory for manufacturing electric vehicles and batteries in India, officials had been quoted by PTI as saying, "We have told Tesla that the policies, which are already there for all, they can also apply under that PLI. They are welcome. Generally, the policy will be the same for all. For a single company, the government may not like to make separate policies. So far, there is no plan to give special treatment." 

Reuters has also reported that after the meeting between PM Modi and Musk, Tesla has fast-tracked its plan to build an EV plant in India where it plans to build a new low-cost $24,000 EV.

भारत में अपने मोटर व्‍हीकल का कारोबार बढ़ाने के लिए टेस्‍ला इंडिया मोटर एंड एनर्जी प्राइवेट लिमिटेड पूरी तरह से तैयार है...@elonmusk की #Tesla ने पुणे के पंचशील ब‍िजनेस पार्क में 5 साल के लिए लीज पर लिया ऑफिस, ₹11.65 Lk है मंथली रेंट. हालांकि ये किराया हर साल 5% बढ़ाया जाएगा. pic.twitter.com/2HSPdElQ8K

— Zee Business (@ZeeBusiness) August 3, 2023