Lease Hits ₹3.69 Crore for the First Year
Tesla, the electric car giant founded by Elon Musk, is now set to make waves in India’s bustling automotive landscape. The company’s first-ever Indian showroom is coming to Mumbai, with the iconic Bandra-Kurla Complex (BKC) serving as its launchpad. This move marks a significant leap for Tesla’s expansion in one of the world’s most promising electric vehicle markets.
The lease agreement, signed on February 16, 2025, secures a prime 4,003-square-foot space in the Maker Maxity building, an area that’s as expansive as a basketball court. The showroom’s rental will begin at ₹3.69 crore (USD 446,000) for the first year, with a 5% increase every year. By the fifth year, the annual rent will rise to approximately ₹4.13 crore (USD 542,000), showcasing Tesla’s long-term commitment to India’s growing market.
This showroom is a strategic move for Tesla, located near Mumbai’s international airport and surrounded by high-end retail outlets and offices of global brands. While initially focused on imported cars, Tesla’s plans extend beyond Mumbai, with a second showroom expected to open in Delhi Indira Gandhi International Airport.
Tesla’s Indian journey seems to have gained momentum following Elon Musk’s key discussions with Indian Prime Minister Narendra Modi during his recent US visit, which helped cement the groundwork for Tesla’s entry into the market.
As Tesla gears up for the Mumbai opening, the Indian government is also preparing a game-changing policy for electric vehicles. A proposed reduction in import duties—cutting taxes from 110% to just 15% for EVs priced above USD 35,000—could give a massive push to the country’s EV market. This move is expected to make premium electric vehicles more accessible to Indian consumers, further fuelling the shift toward sustainable mobility.
