Business

Tesla India Secures Rs 25 Crore Lease for Service Center in Mumbai

Published

1 year ago

June 7, 2025

Tesla India Motor and Energy Private Ltd has leased a 24,500-square-foot facility in Mumbai’s Kurla West to establish a service center, conveniently located near its forthcoming showroom in the Bandra Kurla Complex (BKC).

This initiative marks a pivotal move in Tesla’s strategy to penetrate the Indian electric vehicle (EV) market, although the company has no immediate plans to manufacture vehicles locally.

According to property documents from CRE Matrix, a real estate data analytics firm, Tesla has engaged in a lease and license agreement with Bellissimo in City FC Mumbai I Private for the space within Lodha Logistics Park. The lease spans five years, starting at a monthly rental of Rs 37.53 lakh, amounting to nearly Rs 25 crore over the entire lease term, which includes a security deposit of Rs 2.25 crore.

Tesla has reiterated that its focus is currently on selling its vehicles in India rather than local manufacturing. Union Heavy Industries Minister H.D. Kumaraswamy clarified on Monday that Tesla intends to open showrooms in India solely for sales purposes.

During a press conference, the minister announced that India’s flagship EV policy is now accessible to international car manufacturers looking to produce and sell EVs in the country. Notable automotive giants like Germany’s Mercedes-Benz and Volkswagen, along with South Korea’s Hyundai Motor, have expressed interest.

All three companies have active manufacturing operations in India, with Hyundai aiming to establish the country as its global EV hub. Volkswagen India is closely monitoring the developments of the EV policy and evaluating its potential impact before deciding on further actions.

The government has issued guidelines to attract global manufacturers to invest in the electric vehicle segment, enhancing India’s status as a global manufacturing hub for e-vehicles.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

9 hours ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

4 days ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.