Tesla leases its first Indian office in Pune

Kenneth John Published: August 07, 2023, 06:23 PM IST

During his June visit to the United States, Elon Musk met with Prime Minister Narendra Modi and expressed interest in establishing a manufacturing site in India. Elon Musk's Tesla India Motor & Energy Pvt Ltd has now rented an office space in Pune's Panchshil Business Park in Viman Nagar, according to a recent development.

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The electric vehicle maker has signed a five-year leasing deal with Tablespace Technologies Pvt Ltd to lease a 5,850-square-foot office in Panchshil Business Park. The lease deal is supposedly said to include five car parks and 10 bike parks as per the agreement registered.

According to the documents, the two corporations agreed to a 36-month lock in term with a 5 percent annual escalation provision.

As per the Panschil Realty website, Panchshil Business Park at Viman Nagar has a development area of 10,77,181 sq. ft. and is currently under construction. It is 500 meters from Nagar Road and three kilometers from the Pune International Airport. It is easily accessible from Kalyani Nagar, Koregaon Park, Wadgaonsheri, and Kharadi residential neighbourhoods.

According to media sources, the Indian government may enable Tesla's international suppliers, notably those from China, to manufacture components in the country. It should be noted that the government is not willing to offer exemptions to any company. Tesla has already registered its Indian subsidiary in Bengaluru in 2021.

Two Tesla executives met with Invest India officials last week and are allegedly planning more meetings in Delhi.

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