Tesla's Entry Set To Change India Market Amid Robust EV Policies: CM Devendra Fadnavis

(MENAFN- IANS) Mumbai, July 15 (IANS) Welcoming Elon Musk-run Tesla's entry into India, Maharashtra Chief Minister Devendra Fadnavis on Tuesday said the country is now a robust market for electric mobility and the US-based electric car-maker is going to change the entire market.

Inaugurating Tesla's first showroom called 'Experience Centre' at Bandra Kurla Complex (BKC) here, the chief minister said that this is not just an inauguration of an Experience Centre but a statement that Tesla has arrived in the city of Mumbai which is the entrepreneurial capital of India -- not just financial, commercial and entertainment capital.

“Mumbai stands for innovation. Mumbai stands for sustainability. Tesla is not just a car or a car company but it is all about design, innovation and sustainability,” CM Fadnavis told the gathering at the launch event.

He shared that in 2015, he had his first ride in a Tesla in the US, and then, he thought that we require such a vehicle for mobility in India.

“It took you 10 years to come to India, but we are very happy that finally you are here, and I'm sure that people of Mumbai and the people of India are going to love Tesla, and you will have one of your best market in India when you actually start delivering your cars,” said the chief minister.

CM Fadnavis said India now has very good policies towards creating charging infrastructure, promoting EVs and also the best incentives towards manufacturing electric vehicles.

“So I think it's a good start, but eventually, in future, we wish to see all the R&D and manufacturing done in India, and I am sure that at an appropriate stage, Tesla will think about that,” said the chief minister.

Tesla now has four commercial properties in India, including an engineering hub in Pune, a registered office in Bengaluru, and a temporary office near BKC. Tesla India Motor and Energy Private Ltd had leased a 24,500-square-foot space in Mumbai's Kurla West to set up a service centre, located close to its upcoming showroom in BKC.

The electric car-maker has signed a lease and license agreement with Bellissimo in City FC Mumbai I Private to rent the space in Lodha Logistics Park. The agreement is for five years, with a starting monthly rent of Rs 37.53 lakh. Throughout the lease, Tesla will pay nearly Rs 25 crore in total, including a security deposit of Rs 2.25 crore, as per the documents.

“I would like to assure you that consider us as partners of your journey,” said CM Fadnavis.

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