The wait is over! Tesla's entry in india is almost confirmed!
It is almost confirmed that the American company tesla, which makes electric vehicles, will enter India. The company is going to open its showroom in Mumbai's Bandra Kurla Complex. The deal is almost finalized. For this, a commercial space is being rented on lease.
A new showroom is going to open here
According to the Times of india report, property market sources have told that tesla is going to open its showroom in a 4,000 square feet space on the ground floor of a commercial tower in BKC. For the lease, the rent will have to be paid at the rate of about Rs 900 per square feet every month, which is usually Rs 35 lakh. The lease agreement is for 5 years. It is expected that tesla will open its second showroom in Delhi's Aerocity Complex. This deal was finalized just a few days after tesla CEO Elon Musk's meeting with prime minister Narendra Modi in Washington.
America worried about India's tariffs
Two things are clear from this - one, Tesla's entry into india can happen anytime now and secondly, this will bring more clarity on the India-US bilateral trade agreement, which was announced after Modi's meeting with US President Trump. The indian government imposes 110 percent duty fee on vehicles imported from other countries, considering this a matter of concern, US President donald trump said that due to such high tariffs, tesla is forced to build its plant in India.
In a recent interview, trump had said that if tesla builds its factory in india to avoid high tariffs, then it will not be right for America. trump had said that every country in the world takes advantage of America through tariffs. Meanwhile, Musk also advocated for low tariffs, while india has also prepared a draft of a new policy.
