Latest news with #TeslaIndia
NDTV
03-06-2025
- Business
- NDTV
Tesla India Takes On Lease 24,565 Sq Ft Warehousing Space In Mumbai
New Delhi: Tesla India has taken on lease 24,565 square feet warehousing space in Lodha Logistics Park in Mumbai at a starting monthly rent of Rs 37.53 lakh, according to CRE Matrix. Real estate data analytics firm CRE Matrix has reviewed the registration documents. Tesla India Motor & Energy Pvt Ltd has taken the warehousing space, located at Kurla-West in Mumbai, on lease for 5 years. The space has been taken from Macrotech Developers Ltd, which is developing this logistics park. The rent commencement date is June 1, 2025. There will be a rent escalation of 5 per cent per annum. The total rent outgo is estimated at Rs 24 crore for the entire 5-year lease period. "Tesla's India entry is taking shape through a deliberate, multi-city rollout -- from its office in Pune to flagship showrooms in BKC and Delhi-NCR, co-working presence in BKC and now a strategic warehousing facility in Kurla-West Mumbai. This 24,565 sq ft lease at Rs 153 per square feet is more than a real estate transactions -- its a signal of intent," CRE Matrix CEO Abhishek Kiran Gupta said. Listed entity Macrotech Developers, which sells properties under Lodha brand, did not comment on the lease transaction. On Monday, Union Heavy Industries Minister H D Kumaraswamy said that global EV giant Tesla is not interested in manufacturing cars in India but keen on establishing showrooms in the country.
NDTV
09-05-2025
- Automotive
- NDTV
Tesla's India Head Resigns As Company Prepares For India Entry
A report by Bloomberg says that the Prashanth Menon, Tesla India Country Head, has resigned ahead of Tesla's India entry. The report suggests that he resigned due to personal reasons, but Tesla hasn't released a statement at the time of publishing this copy. Prashanth Menon also stepped down from his role as the chairman of the Tesla India Board. Tesla's China team will run the India operations, with no successor named as of now. The US EV maker had been planning its India entry for a few years now. Prashanth Menon had a 9-year stint with Tesla and he took over the reins of Tesla India from Venkatrangam Sreeram. He served as the chairman of Tesla India Board for more than four years. Before joining Tesla India, Menon was posted in USA and worked as the directory advisor of cost, process and regulatory measures. The Tesla India office was set up in Pune in 2021 and since then Tesla has posted over two dozen jobs in India, for its operations in India which include planned showrooms in Delhi and Mumbai. Tesla says that the local hiring is complete at the moment. In other news, Lavji Daliya, a businessman from Surat, Gujarat, imported India's first Tesla Cybertruck. It is claimed that this is currently the only Cybertruck in the country and this is the top-spec Cyberbeast variant of the Cybertruck. It has a range of 514 km and a top speed of 209 kmph. This unit of the electric pickup truck was spotted on the flatbed of a truck a few days ago with a Dubai registration plate.
New Indian Express
08-05-2025
- Automotive
- New Indian Express
Tesla's India head Prashanth Menon resigns ahead of much-delayed India entry
Tesla country head for India Prashanth Menon has resigned ahead of the US electric carmaker's planned entry into the world's third-largest car market. As per a Bloomberg report, Tesla's China teams will oversee Tesla's India operations, with no immediate successor named. Menon is also stepping down as the chairman of Tesla India's board, added the report citing sources. Tesla is yet to issue a statement on Menon's departure and his successor. The Elon Musk firm has been trying to enter the Indian market for years. The brand has already secured showroom locations in Delhi and Mumbai to begin selling imported cars here. It has also posted close to two dozen mid-level jobs here this year, signaling progress in its plans to launch in the country.
Time of India
08-05-2025
- Automotive
- Time of India
Tesla's India head resigns ahead of long-awaited market entry: Report
Tesla's country head for India has stepped down after nearly nine years with the electric vehicle giant, just as the company moves closer to launching operations in one of the world's fastest-growing auto markets, according to a report by Bloomberg News. Tired of too many ads? go ad free now The report, citing sources familiar with the matter, stated that Tesla's China team will now oversee Indian operations, and no immediate successor has been named. Menon is also reportedly stepping down as the chairman of Tesla India's board. Tesla, led by CEO Elon Musk, has been eyeing an India entry for years, and the recent developments suggest that the company is finally putting pieces in place. Despite the leadership shake-up, Tesla appears to be pushing ahead with its plans, having secured retail showroom locations and posted close to two dozen job openings in India. These include roles in store management, service operations, and customer relations—clear indicators of an impending launch. The timing of Menon's exit coincides with ongoing trade talks between India and the US, which could lead to a lowering of auto import tariffs. Such a move would be a major win for Tesla, which aims to import and sell cars in India before potentially ramping up local production.
Bloomberg
08-05-2025
- Automotive
- Bloomberg
Tesla's India Head Resigns Just as Carmaker Prepares Local Entry
Tesla Inc. 's India country head, Prashanth Menon, has resigned just as the electric carmaker firms up its plan to enter the country with its first retail outlets in Mumbai and Delhi, according to people familiar with the matter. Menon, who has worked at the Elon Musk-led EV maker for nearly nine years, is exiting after leading India operations as chairman of board of Tesla India for over four years, the people said, asking to not be identified as the information is private.
