Tesla’s first India showroom has set a new rent record in India.

The man who moved from Silicon Valley, then Texas, to the White House, has been just about everywhere. From PayPal fintech in nascent years of internet & ecommerce to Rocket Science of his SpaceX, its subsidiary Starlink, the EV benchmark Tesla, energy storage solutions Megapack as also the Powerwall, and his Boring Company which is exciting travel of the future on Earth…..it is all an adventure larger than life.

Tesla Inc, an electric vehicles (EVs) manufacturing company of the richest man in the world, Elon Musk, has made inroads into India by surpassing a milestone on its debut. Tesla has secured its maiden showroom in Mumbai’s upscale business district of Bandra Kurla Complex (BKC) and in doing so, has set a new national record in terms of commercial space lease rentals.

Tesla which leads in EV technology, performance, popularity and even sales (Tesla Model Y), has entered into an agreement with Maker Group company to lease space on the ground floor of 2 North Avenue of commercial complex named Maker Maxity with monthly rentals of Rs 881 per sq. ft., surpassing the earlier benchmark set by Apple Inc at Rs 738 per sq. ft. in January 2025.

Tesla Inc has paid a security deposit worth Rs 2.11 crore at the time of registration of the deal.

Monthly rental payment will be Rs 35.26 lakh in the first year and Rs 42.86 lakh in the final year of tenancy. The landlord will not be able to terminate the lease during the entire term, the agreement includes the first lock-in period of 36 months for the tenant. There is rental escalation of 5% every year.

This also illustrates the potential of India as world’s fastest growing automobile market and especially as EV market. Government of India is actively establishing infrastructure in renewable energy along with benefits to electronic vehicle manufacturers and buyers.