Energy company Tesla will commence its operations in India later this year. While we await further official information, a report states that it has finalised the location of its first office and showroom – in a posh part of Mumbai.
Earlier this year, Tesla registered a company in India, incorporating it in Bangalore, leading many to believe that it would end up being the base of its operations in the country. However, a new development suggests that Mumbai will take the crown for Tesla’s first office as well as showroom.
Mumbai’s commercial area of Lower Parel-Worli will be Tesla’s home in India, serving as its office as well as a retail store. It is reportedly in the process of evaluating a couple of ready-to-move commercial properties for a 40,000 sqft establishment.
Blackstone Group’s One World Centre office space is said to be the top contender for Tesla’s office. The same complex also hosts companies like Morgan Stanley, American Express, Aditya Birla Group companies, the Kingdom of Spain, IDFC First Bank and others.
Tesla was also reported to be looking for EV Supercharger locations in Mumbai, followed by presence in Delhi and Bangalore with similar showrooms and charging infrastructure.
Tesla was offered strong subsidies for manufacturing in India by authorities in Maharashtra to achieve competitive pricing and generate local employment. For now, the Tesla Model 3 is expected to start things off in the country, with an expected price of around 60 lacs owing to import duties. Having local manufacturing should help the world’s most valuable car company avoid some of these costs, while additional subsidies should help further.
With advancements in battery technology such as tabless 4680 cells and offerings such as the “Model 2” in the pipeline, Tesla is expected to bring the prices further down for developing markets such as China and India.
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