Tesla has signed a five-year lease on a 5,850 sq ft office space in Pune, India, signalling a move towards establishing a manufacturing facility in the country. The manufacturer s move comes after Prime Minister Narendra Modi met CEO Elon Musk, discussing investment opportunities in a major potential EV market, India being the third largest in the world. Meanwhile, Chinese EV firms, such as BYD and Great Wall Motors, are facing significant investment roadblocks in the country, having had proposals rejected, or run into difficulties.
Tesla Inc, the worlds most-valued automotive company, has leased some office space in the leading local automobile hub of Pune amid talk that company executives are meeting up with Indian government officials to discuss the electric car-makers entry into the domestic market.
Tesla Leases Office In Pune: The company’s India arm, Tesla India Motor & Energy, has leased the office spread over 5,850 sq ft in a coworking center on the first floor of one of the towers in Panchshil Business Park.
Tesla has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi.
Tesla India sets up office in Pune after meeting Commerce Minister for plans of EV manufacturing plant. Aims for a 25 percent cheaper EV model for India.