Tesla in India: Tesla came to India, took office on lease for 5 years in Pune, when will its electric car arrive?
New Delhi: Everyone wants to know when the world’s richest man Elon Musk’s electric car company Tesla will come to India. Recently, when PM Modi was on a visit to America, Elon Musk had a meeting with him. Since then, such speculations are being made that Tesla is preparing to set up its manufacturing plant in India. These speculations are now turning into reality. Elon Musk’s Tesla has leased office space in Pune. Tesla has signed a lease with Tablespace Technologies for 5,850 sq ft of office space at Panchsheel Business Park, Pune, according to an agreement with real estate analytics firm CRE Matrix.
This is the monthly rent
Its monthly rent is said to be Rs 11.65 lakh. The security deposit is Rs 34.95 lakh for the lease period of 5 years. The deal includes 5 car parking and 10 bike parking. A few days ago, two senior Tesla representatives reportedly had a meeting with Invest India officials to set up an EV plant in India.
BYD’s $1 billion investment rejected
The central government recently rejected Chinese electric vehicle maker BYD’s $1 billion investment proposal to set up an EV manufacturing plant in the country. The decision comes in the wake of stricter approval requirements following the escalation of the India-China border dispute in 2020. This is not the first time that the government has rejected Chinese investment. Earlier, a $1 billion investment proposal from China’s Great Wall Motors was also rejected. It also wanted to do EV manufacturing in the country.
Tax evasion allegations against Chinese companies
In addition, BYD may face tax evasion charges for cars allegedly being assembled at its Sriperumbudur plant near Chennai. According to the investigation by India’s Directorate of Revenue Intelligence, the automaker is said to have short paid taxes by up to $9 million.
Good chance for tesla
Great Wall Motors and BYD are both global competitors of Tesla. Both these companies are facing challenges in India. In such a situation, it will be very beneficial for Tesla to enter the world’s third largest automobile market.
