Pune: Months after high-level meeting between Indian Prime Minister Narendra Modi and Elon Musk in the United States of America, Tesla India Motors and Energy Private Limited leased office space in the Panchshil Business Park of Maharashtra’s Pune.
As per India Today, senior officials from Tesla held an important meeting with the stakeholders of Invest India to strategies a plan for setting up a manufacturing plant for electric vehicles in India.
According to data analytics company CRE Matrix, Tesla India Motors and Energy Private Limited has acquired office space covering an area of 5,850 square feet on the first flood of B wing in an under-construction building named Panchshil Business Park.
Tesla seals five-year lease agreement
Tesla India Motors and Energy Private Limited has also sealed a five-year lease agreement with Tablespace Technologies Private Limited, which includes a monthly rent of Rs. 11.65 Lakh and a security deposit of Rs. 34.95 Lakh for a five-year period.
Lock-in period of 36 months
The agreement also includes five car parks and 10 bike parks. As per CRE Matrix, the lease deal includes a lock-in period of 36 months, with a 5 per cent per annum escalation clause.
The rental payment will start from October 1, 2023. Notably, Tesla India Motor & Energy Pvt. Ltd registered itself as an Indian subsidiary of Tesla in Bengaluru in 2021.
With inputs from India Today and CRE Matrix…