Tesla's first showroom will open here in Mumbai, the company will pay a rent of Rs 35 lakh every month.

The world's richest man Elon Musk is finally bringing his electric car company Tesla to India. After the meeting between Prime Minister Narendra Modi and Elon Musk last month, it was expected that Tesla would come to India. A few days after this, the company intensified the process of opening its showroom in India and hiring staff. Now another big update has come that Tesla's first showroom will open in Mumbai and the company is also going to pay a hefty rent for it.

Tesla has announced to open its first showroom in India in Bandra-Kurla Complex (BKC) in the country's financial capital Mumbai. For this, the company has rented 4000 square feet area. It is worth noting that Apple also opened its first showroom in India in BKC.

Will pay rent of more than Rs 35 lakh

American electric vehicle (EV) company Tesla has rented 4,000 square feet of space to open its first showroom in India. The company is going to pay a rent of more than Rs 35 lakh per month for this. Elon Musk's company Tesla will also get some parking space along with this rent. CRE Matrix has shared documents regarding this.

The arrival of Tesla in India has been awaited for a long time. Elon Musk himself has been trying for this since 2022, but every time the matter got stuck due to the import duty on electric vehicles in India. The government has recently implemented a new electric vehicle policy.

According to this, if a foreign company commits to invest at least $500 million in India and sets up its assembly plant here within 3 years, then it can import EVs at an import duty of 15 percent. Earlier this tax rate was 70 to 110 percent.

The rent will increase this much after 5 years

This showroom of Tesla can be in Maker Maxity. It has taken this place on a 5-year lease. Every year the showroom rent will increase by 5 percent, which will reach Rs 43 lakh per month in 5 years. This showroom of Tesla is near the country's first Apple store. The company has leased this place from Univco Properties. The starting monthly rent of Tesla's showroom is Rs 881 per square foot. The company has deposited a security deposit of Rs 2.11 crore for this.