Elon Musk's Tesla will move-in in Pune, with Tesla India Motor & Energy leasing an office space at Viman Nagar. This means the company will invest in India to make the country as one of their bases.
Starting October, the company will be housed in Tower B of Panchshil Business Park at Viman Nagar, Lohegaon to operate its electric vehicles and energy business.
Lease Agreement and Rental Information
A total of 5,850 sq. ft. has been leased from Tablespace Technologies for Rs 11.65 lakh per month. The net carpet area for use is 3,150 sq. ft. shows document made available by CRE Matrix, a real estate data analytics firm. The rental document was registered on July 26 on payment of Rs 34.95 lakh in stamp duty.
Details in the rent agreement show that the company will also get five car parking and 10 two wheeler parking slots.
Lease Duration and Escalation in Rent
The lease duration is 60 months or 5 years with a lock-in period of 36 months or 3 years. Every year, the rent will escalate by 5%.
The floor layout plan shows there will be 3 conference or meeting rooms and 41 seats for the staff.
Tesla's Plan for Setting up a Factory in India
According to reports, Tesla is looking at setting up a factory in India to manufacture 5 lakh electric vehicles and make the country as one of the export bases to cater to Indo-Pacific market apart from the Indian subcontinent.
In 2022, the company's plan to set up a base in India was put on a backburner owing to lack of special incentives to import the cars.
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