Elon Musk ’s Tesla is all set to enter the India market. After years of anticipation, Tesla will make an entry to the India automotive market by opening its firsts store in the country. As reported by Reuters, Tesla will open its first store in Mumbai on July 15. The showroom of the company will open in Mumbai’s Bandra-Kurla Complex (BKC).
Telsa to open first showroom in India
As per Reuters, the Tesla showroom will be located in the Maker Maxity building and it spans around 4,003 square feet. The Tesla showroom will located near the Apple’s flagship store in the upscale Jio World Drive retail hub. The report also adds that the Elon Musk-owned company has signed a five-year lease for the showroom space earlier this year. The company will also be paying an annual rent of Rs 3.88 crore which will increase by 5% every year.
The company's broader expansion strategy in India also includes a leased commercial space in Mumbai's Kurla West, which is expected to serve as a vehicle service facility. With these additions, Tesla's footprint in India now extends to four key locations, including an engineering hub in Pune, a registered office in Bengaluru, and a temporary office near BKC.
Initial deliveries to India are expected to consist of Model Y rear-wheel drive SUVs, manufactured at Tesla's Chinese facility in Shanghai. These vehicles, valued at approximately 2.77 million rupees ($31,988), will be subject to India's standard 70% import duty, plus additional levies on fully imported vehicles priced below $40,000.
The report also adds that Tesla may open its second showroom in New Delhi’s Aerocity later this year. The company has already begun importing Model Y SUVs from China, signaling that sales may begin soon.
Telsa to open first showroom in India
As per Reuters, the Tesla showroom will be located in the Maker Maxity building and it spans around 4,003 square feet. The Tesla showroom will located near the Apple’s flagship store in the upscale Jio World Drive retail hub. The report also adds that the Elon Musk-owned company has signed a five-year lease for the showroom space earlier this year. The company will also be paying an annual rent of Rs 3.88 crore which will increase by 5% every year.
The company's broader expansion strategy in India also includes a leased commercial space in Mumbai's Kurla West, which is expected to serve as a vehicle service facility. With these additions, Tesla's footprint in India now extends to four key locations, including an engineering hub in Pune, a registered office in Bengaluru, and a temporary office near BKC.
Initial deliveries to India are expected to consist of Model Y rear-wheel drive SUVs, manufactured at Tesla's Chinese facility in Shanghai. These vehicles, valued at approximately 2.77 million rupees ($31,988), will be subject to India's standard 70% import duty, plus additional levies on fully imported vehicles priced below $40,000.
The report also adds that Tesla may open its second showroom in New Delhi’s Aerocity later this year. The company has already begun importing Model Y SUVs from China, signaling that sales may begin soon.
You may also like
UAE: Faya Palaeolandscape in Sharjah added to UNESCO World Heritage list as second national site
Gujarat: State budget earmarks Rs 15 crore for judicial tech upgrade
India's net direct tax collection falls 1.3% during April 1-July 10
Indian Open Para-athletics: Simran, Sumit, Deepthi, Preeti Bag Gold Medals On Opening Day
Arsenal only need £60m to fix Mikel Arteta transfer problem no one is talking about
