The United States based electric car maker Tesla is looking out for locations to opening up showrooms in three Indian cities, claimed reports quoting sources. The reports also mentioned about the company hiring an executive to lead its lobbying and business efforts prior to the panned entry of the company into the Indian market.
A local company in India was registered by the electric car maker in January and it is expected that the company will import and sell its Model 3 sedan in the market as early as the middle of the current year. The target customers of the company are the rich people and Tesla aims to create a niche market in the country for itself.
Commercial properties as large as 20,000-30,000 square feet each for opening up showrooms and service centers in the Indian capital city of New Delhi, the country’s financial hub Mumbai in the west and the tech city Bengaluru in the south are being sought by the auto company which is the most valuable auto company of the world by market capitalization, said report quoting sources.
The reports also claimed that Manuj Khurana, a former executive of India’s investment promotion body Invest India, has also been recruited by the company which is seen as the first major recruitment by the company for a position to lead the company’s policy making and business development in the country.
There were no comments available on the issue form Tesla as well as Khurana.
The company will enter India in 2021 “for sure,” Tesla CEO Elon Musk had announced on Twitter in October last year. However is was argued that Musk had posted similar tweets in the past also.
However the recent reports of the company seeking showroom space and appointment of Khurana clearly indicate that the company is now pushing hard to enter the Indian market.
Places are being surveyed for a number of week by the global property consultant CBRE Group Inc – hired for the showroom searches by Tesla, said reports, and the search is focused on finding out locations which can give the company easy access and reach to wealthy customers.
Typically, the showrooms of some of the luxury car brands in the upmarket areas of Indian metro cities are between 8,000 and 10,000 square feet. However the spaces of most of the showrooms in India are much smaller because of the high price of high-end real estate space as well as short supply of such spaces. The property prices in New Delhi and Mumbai are among the highest in the world.
“If you look at Tesla’s showrooms globally, they are like experience centers. It would look at replicating that with some modifications for the Indian market,” said one of the reports quoting one of the sources who was unnamed because of the matter was private.
CBRE said it does not comment “on work we may be doing on behalf of our clients.”
(Source:www.financialpost.com)
A local company in India was registered by the electric car maker in January and it is expected that the company will import and sell its Model 3 sedan in the market as early as the middle of the current year. The target customers of the company are the rich people and Tesla aims to create a niche market in the country for itself.
Commercial properties as large as 20,000-30,000 square feet each for opening up showrooms and service centers in the Indian capital city of New Delhi, the country’s financial hub Mumbai in the west and the tech city Bengaluru in the south are being sought by the auto company which is the most valuable auto company of the world by market capitalization, said report quoting sources.
The reports also claimed that Manuj Khurana, a former executive of India’s investment promotion body Invest India, has also been recruited by the company which is seen as the first major recruitment by the company for a position to lead the company’s policy making and business development in the country.
There were no comments available on the issue form Tesla as well as Khurana.
The company will enter India in 2021 “for sure,” Tesla CEO Elon Musk had announced on Twitter in October last year. However is was argued that Musk had posted similar tweets in the past also.
However the recent reports of the company seeking showroom space and appointment of Khurana clearly indicate that the company is now pushing hard to enter the Indian market.
Places are being surveyed for a number of week by the global property consultant CBRE Group Inc – hired for the showroom searches by Tesla, said reports, and the search is focused on finding out locations which can give the company easy access and reach to wealthy customers.
Typically, the showrooms of some of the luxury car brands in the upmarket areas of Indian metro cities are between 8,000 and 10,000 square feet. However the spaces of most of the showrooms in India are much smaller because of the high price of high-end real estate space as well as short supply of such spaces. The property prices in New Delhi and Mumbai are among the highest in the world.
“If you look at Tesla’s showrooms globally, they are like experience centers. It would look at replicating that with some modifications for the Indian market,” said one of the reports quoting one of the sources who was unnamed because of the matter was private.
CBRE said it does not comment “on work we may be doing on behalf of our clients.”
(Source:www.financialpost.com)
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