Elon Musk's Tesla India Motor & Energy Pvt Ltd has rented office space in Pune's Panchshil Business Park in Viman Nagar. According to a report in the Hindustan Times, Tesla's Indian subsidiary has entered into a five-year lease agreement with Tablespace Technologies Pvt Ltd for 5,580 square feet of office space on the first floor of B Wing in Pancshil Business Park. The rent for the office space will commence from October 1, 2023 and the two companies have agreed to a lock-in period of 36 months with an escalation clause of 5 percent per annum. The Panchshil Business Park is currently under construction and has a development size of 10,77,181 sq. According to an Economic Times report, the Indian government may allow Tesla's foreign suppliers, particularly those from China, to manufacture components in the country.

Source: Mint August 03, 2023 20:25 UTC