Mumbai: American EV maker Tesla has rented a 4,000-sq ft space in the Bandra Kurla Complex business district to house its maiden showroom in the country, it was revealed on Wednesday.

The company, backed by billionaire Elon Musk, will be paying a monthly rent of over ₹35 lakh for the space, which also includes parking facilities, according to documents shared by CRE Matrix.

The highly anticipated launch of Tesla could be a stepping stone toward the pioneering automaker’s future plans to manufacture or assemble vehicles in India.

The lease for the space in Maker Maxity is for a period of five years and the monthly rental will go up to nearly ₹43 lakh a month with a 5 per cent rent escalation per year, as per the documents.

The property on the ground floor is located very close to India’s first Apple Store, and has been leased from Univco Properties.

A rental agreement was registered on February 27 between Univco and one of Tesla’s subsidiaries with offices in Pune.