Tesla leases office space in Pune amid talks with Indian govt

During on-going meetings between top executives of Tesla and Indian government officials to explore their entry into India, the US-based electric vehicle manufacturer has secured office space in Pune's Viman Nagar area.Tesla India Motor and Energy, the company's Indian subsidiary, has leased a 5,850 sq ft office within a co-working centre on the first floor of a tower in Panchshil Business Park. The lease agreement spans five years, commencing from October 1, with a three-year lock-in period. Additionally, Tesla India holds the option to extend the lease for another five years, making a total commitment of 10 years.Under this agreement, Tesla will pay initial monthly rent of Rs 1.16 million, subject to a 5 per cent increase every 12 months. This rental structure will amount to a total pay-out of Rs 77.2 million throughout the lease tenure. The deal was officially registered on July 26, as revealed in documents accessed through CRE Matrix.Notably, Tesla is actively pursuing plans to establish an electric vehicle manufacturing factory in India and has been engaging in discussions with the government in this regard. In January 2021, the company registered its Indian subsidiary in Bengaluru, signalling its intent to introduce its vehicles to the Indian market.