US electric vehicle manufacturer Tesla has signed a lease agreement to establish its first showroom in Mumbai, marking a significant step toward launching its imported car sales in India. The move comes after the company previously shelved similar plans.
According to registration documents, Tesla has secured a five-year lease starting February 16, 2025. The company will initially pay approximately $446,000 in rent for the first year for a 4,003-square-foot (372-square-meter) space—comparable to the size of a basketball court. The rent is set to increase by 5% annually, reaching around $542,000 by the fifth year, as per data from analytics firm CRE Matrix.
The showroom will be located in the Maker Maxity building within the Bandra Kurla Complex, a prime business and retail district near Mumbai’s airport.
Last month, Reuters reported that Tesla had identified locations for two showrooms in India, one in Mumbai and another in New Delhi. The development follows a meeting between Tesla CEO Elon Musk and Indian Prime Minister Narendra Modi in the US, signaling the company’s renewed interest in the Indian market.
