Tesla to open Mumbai showroom this month; rent per month to be...

Tesla will open its first showroom in India on July 15. The location of the showroom will be Jio World Drive in Mumbai, said a report. The US EV-maker had leased a retail space in March. The showroom will be opened close to Apple's flagship store. Earlierthis month, Tesla also leased a commercial space for warehousing in Mumbai's Kurla. Here are the key details of Tesla's India operations. The Elon Musk-led firm has leased a total of four properties in India, including an engineering hub in Pune and an office in Bengaluru.

Union Minister for Heavy Industries HD Kumaraswamy had said in June that Tesla was not interested in setting up manufacturing in India and wanted to open showrooms.

Tesla said on Friday that the Mumbai outletwill function as an experience center.According to Bloomberg, five Model Y vehicles have arrived in Mumbai from Tesla's China factory.

How much rent will Tesla pay for its showroom and warehouse?

Tesla India recentlyleased24,565 sq ft of warehouse space at Lodha Logistics Park in Mumbai’s Kurla area. The Elon Musk-led company will pay a total rent of Rs 24.38 crore ($28,39,857) over five years, reported CRE Matrix.

Tesla will pay Rs 37.53 lakh ($43,709) per month as rent for the first year. The rent will be increased by 5 percent every year. The warehouse will have parking spaces for 20 vehicles.

The showroom will set Tesla back by Rs 23.38 crore ($27,23,094) over five years. At a rate of Rs 881 per square foot, this could be the most expensive lease deal for an auto showroom in India.