Tesla Gears Up in Kurla – Wealthy Brains

June 4, 2025
by Wealthy Brains
Uncategorized

Tesla’s official entry into the Indian market is expected in the final quarter of the current financial year.

Photograph: Yves Herman/Reuters

Elon Musk’s Tesla Inc has leased a 24,565 square foot warehousing facility in Mumbai’s Kurla West for a five-year term, according to lease documents sourced from real estate data analytics firm CRE Matrix.

The American electric carmaker will use the ground floor space in Building 1 of the Lodha Logistics Park as a service centre and garage, excluding bodywork and spray painting operations, the agreement states.

This development comes to light a day after Union Heavy Industries Minister H D Kumaraswamy said Tesla was yet to show interest in manufacturing EVs in India.

While the company is preparing for a market debut, local production does not figure into its immediate plans.

Tesla will initially pay a monthly rent of Rs 37.53 lakh (Rs 153 per sqft), with a 5 per cent annual escalation clause built into the lease.

The licensor entity is Bellissimo (in City FC Mumbai 1), which operates in real estate services on a fee or contract basis.

Lodha Logistics Park spans eight acres, with development potential of 400,000 sq ft across five blocks, offering modular storage options ranging from 5,000 to 50,000 sq ft.

Tesla has deposited Rs 2.25 crore as security.

The lease officially commenced on April 20, 2025, with a rent-free period of one month and 10 days. Rent payments begin June 1, 2025. The lease was registered on May 16, 2025.

Under the agreement, Tesla will also pay common area maintenance charges of Rs 10 per sqft, with a 5 per cent annual escalation, and will receive 20 parking spots with the facility.

“Tesla’s India entry is taking shape through a deliberate, multi-city rollout, from its office in Pune to flagship showrooms in Mumbai’s Bandra Kurla Complex and Delhi-NCR, co-working presence in BKC, and now a strategic warehousing facility in Kurla West,” said Abhishek Kiran Gupta, CEO, CRE Matrix.

“This 24,565 sqft lease at Rs 153 per sqft is more than a real estate transaction — it’s a signal of intent.”

In March, Tesla leased showroom space in BKC for a monthly rent of Rs 35.26 lakh — or Rs 888 per sqft — for five years.

The company is reportedly leasing a second showroom in Delhi NCR’s Aerocity.

Tesla’s registered Indian office is located at Tablespace, Panchshil Business Park in Pune, and it has also leased co-working space near BKC in Mumbai.

In May, Business Standard reported that Tesla is scouting land in Satara, hometown of Maharashtra Deputy Chief Minister Eknath Shinde, for a completely knocked down (CKD) electric vehicle assembly unit, according to a senior government official.