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Tesla India Motor & Energy Pvt Ltd has secured a 24,565 sq ft warehousing facility in Lodha Logistics Park, Kurla-West, Mumbai, with a starting monthly rent of INR 37.53 lakh. The lease, spanning five years, was signed with Macrotech Developers Ltd and includes a 5% annual escalation clause. According to CRE Matrix, the total lease outflow is expected to reach INR 24 crore. This development marks another step in Tesla's multi-city rollout strategy in India, which includes previous activity in Pune, BKC, and Delhi-NCR. The warehousing operations are scheduled to begin in the coming year.
Tesla India Motor & Energy Pvt Ltd has taken a significant step forward in its India expansion by leasing a 24,565 square feet warehousing unit in Mumbai's Kurla-West. The space is situated within Lodha Logistics Park and has been leased from Macrotech Developers Ltd, the listed real estate firm behind the Lodha brand. According to real estate data analytics firm CRE Matrix, the agreement stipulates a starting monthly rent of INR 37.53 lakh. Advertisement
The lease agreement spans five years and includes an annual rent escalation of 5%. The overall financial outlay for Tesla India over the course of the lease is estimated to be INR 24 crore. Rent payments are scheduled to commence from early June next year.
CRE Matrix, which reviewed the registration documents related to the transaction, highlighted the strategic importance of the move. Abhishek Kiran Gupta, CEO of CRE Matrix, remarked that Tesla's presence in India was beginning to take clear shape, with a multi-city strategy evident from its earlier steps. These include setting up an office in Pune, establishing co-working and showroom spaces in Mumbai's Bandra-Kurla Complex (BKC), and creating a retail footprint in the Delhi-NCR region.
Gupta added that this lease transaction priced at INR 153 per sq ft is more than a mere real estate deal. He described it as a symbolic gesture that underlines Tesla's intent and long-term commitment to the Indian market.
Despite being a party to the lease, Macrotech Developers Ltd has refrained from commenting on the deal.
In a related development earlier this week, Union Heavy Industries Minister H. D. Kumaraswamy remarked that Tesla had not shown interest in manufacturing electric vehicles in India at present. However, he noted that the company remained keen on setting up showrooms across the country - reinforcing the view that Tesla's India entry is currently focused on establishing retail and logistical infrastructure rather than production facilities.
Tesla's steady acquisition of office, co-working, retail, and now warehousing spaces across prominent Indian metros signals a cautious but deliberate market entry strategy that aligns with its global expansion model.
By focusing on logistics, co-working hubs, and retail footprints, Tesla is crafting a flexible foundation to support future ambitions whether that includes manufacturing or a scaled sales and service model tailored to Indian consumers.
Source - PTI
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