Tesla Signs 5-Year Office Lease Agreement in Pune to Establish EV Plant in India
As per the documents, two companies consented to a lock-in period of 36 months, with a 5 percent annual escalation clause. The rent will begin on October 1, 2023.
August 03, 2023. By EI News Network
Tesla will pay a monthly rent of INR 11.65 lakh and a security deposit of INR 34.95 lakh for leasing the space for 60 months.
The lease deal will comprise five car parks and 10 bike parks according to the documents accessed and shared by CRE Matrix, a real estate analytics firm.
As per the documents, two companies consented to a lock-in period of 36 months, with a 5 percent annually escalation clause. The rent will begin on October 1, 2023.
Panchshil Business Park at Viman Nagar has a development size of 10,77,181 sq. Ft and is under construction, as per Panschil Realty website. It is situated 500 metres from Nagar Road and is three kilometers away from the Pune international airport. It is easily accessible from residential areas like Kalyani Nagar, Koregaon Park, Wadgaonsheri and Kharadi.
Though Tesla’s Indian subsidiary was registered in Bengaluru in 2021, the company’s entry into India has been slow.
Tesla has been actively minimising the costs of its existing models since the commencement of the year, and Musk has constantly focussed on the significance of majorly lowering EV costs for the company’s long-run progress.
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