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Elon Musk-led Tesla has reportedly leased a new warehouse space in Mumbai’s Kurla West as a part of its strategy to expand operations and build an ecosystem for future manufacturing and supply chain activities across the country.
A Mint report said that the company will use the space as a service centre and will further look to expand within the facility.
Tesla India Motor & Energy, the company’s Indian subsidiary, has signed a five-year lease for 24,565 square feet at the Lodha Industrial and Logistics Park in Kurla.
The report further said that Tesla will pay a monthly rent of INR 37.53 Lakh, totaling INR 24 Cr over the lease term.
The Lodha Logistics Park in Kurla provides space for urban distribution centres in the city and has a potential development area of 4 Lakh sq. ft. It caters to last-mile delivery needs of e-commerce, quick-commerce and cloud kitchen firms.
Inc42 has reached out to Tesla for comments on the development. The story will be updated upon receiving responses.
The development comes more than a month after Tesla leased a 30 seater space in the co-working hub of Phoenix Market City. In its bid to increase its presence in the country, the company also leased space in Mumbai’s Bandra Kurla Complex (BKC) and Delhi NCR for its showrooms.
Tesla’s U-Turn On Manufacturing In India
While Tesla is on the edge of commencing its operations in India’s growing EV market, it does not plan to manufacture in the country. A couple of days back, Union minister of heavy industries HD Kumaraswamy said that Tesla is not interested in manufacturing in the country.
“We are not expecting to see interest from Tesla. They are only looking to start operations through showrooms and are not interested in manufacturing in India,” said Kumaraswamy.
The minister said that it is still not clear whether Tesla will send its EV cars to India via Germany or China.
The development coincides with India’s ‘Scheme to Promote Manufacturing of Electric Passenger Cars in India’, which aims to boost EV production in the country. Under the new policy which was passed last year, global companies will have to pay lower duty on imports of electric four-wheelers (E4Ws) if they commit to invest INR 4,150 Cr (about $500 Mn) in India.
Besides, global manufacturers will be allowed to import completely built-in units (CBUs) of E4Ws with a minimum CIF (cost, insurance and freight) of $35,000 at a reduced customs duty of 15% for a period of five years. The only condition under the scheme is that the EV players will have to set up their manufacturing unit in India and commence operations within three years.
Earlier this year, Tesla was planning to set up an assembly unit in Maharashtra’s Satara and its scouting team was in the country to find a location to set up a $2 Bn to $3 Bn EV manufacturing factory.
The post Tesla Ramps Up India Strategy With New Warehouse Space Lease In Mumbai appeared first on Inc42 Media.
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