Tesla India Motor & Energy Pvt Ltd takes up managed office space in Pune for five years

Tesla India Motors and Energy Pvt Ltd, the company’s Bengaluru-based subsidiary, has taken up a managed office space in Pune at a monthly service fee of Rs 11.65 lakh

Even as two senior executives of Tesla, the Austin, Texas-headquartered maker of electric cars, are visiting India to actively engage with the government and stakeholders to gain insights into the market, Tesla India Motors and Energy Pvt Ltd, the company’s Bengaluru-based subsidiary, has taken up a managed office space in Panchshil Business Park, Pune, with a total chargeable area of 5,850 sq ft and a monthly service fee of Rs 11.65 lakh, documents accessed by real estate data analytics firm CRE Matrix showed.

The company has made a security deposit of Rs 34.95 lakh for five years, the service agreement showed. The service agreement is for five years and the rent escalation is 5 percent per annum. The Indian arm of Tesla has taken the first floor of Tower B in the business park located in Viman Nagar, Pune.

The document was registered on July 26. The total chargeable area is 5,850 sq ft while the net carpet area is 3,150 sq ft, the document showed.

The operator of the managed space that Tesla has taken up is Tablespace Technologies Pvt Ltd, which is in the business of designing, building and operating managed offices for enterprises.

Tesla India Motors and Energy is in the business of electric vehicles and energy products. It has taken up space for its commercial use and is availing managed office services for such premises.

Emails have been sent to Tablespace Technologies Pvt Ltd, Tesla India Motors and Energy and Panchshil Realty, the developer of the business park.

The two Tesla executives have discussed the company’s plans to enter India with officials from the country’s investment promotion arm in New Delhi, two people with direct knowledge of the matter said, the latest in a series of high-level talks.

The US carmaker has expressed an interest in building a factory in India that would produce a low-cost electric vehicle priced at $24,000, around 25 percent cheaper than Tesla’s current entry model, for both the Indian market and export.

The Tesla executives—senior public policy and business development executive Rohan Patel and a vice president for supply chain, Roshan Thomas—are currently in New Delhi and have met officials from the Invest India agency.