New Delhi: US electric carmaker Tesla has signed a lease to open its first showroom in Mumbai, marking a significant step towards selling imported cars in India.
The lease, effective from February 16, 2025, is for a 4,003-square-foot space in the prestigious Maker Maxity building in Bandra Kurla Complex, a prime business and retail district near Mumbai’s airport.
Tesla will pay approximately $446,000 in rent for the first year, with a 5 percent annual increase, bringing the total five-year cost to over $2.5 million.
This move comes after Tesla scrapped similar plans last year but has since renewed its India focus. The company is also finalizing a New Delhi showroom and has posted nearly two dozen job listings, including roles for store, service, and customer relationship managers.
While Tesla aims to sell imported cars from its Indian outlets, import tariffs exceeding 100 percent remain a major hurdle.
CEO Elon Musk has long criticized India’s high taxes and has found support from former U.S. President Donald Trump, who has also called for lower tariffs on American-made vehicles.
Musk recently met with Indian Prime Minister Narendra Modi, signaling Tesla’s growing interest in India’s electric vehicle market. However, high import duties continue to be a sticking point, potentially affecting Tesla’s long-term strategy in the country.
