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Tesla Signs Deal for First India Showroom to Sell Imported EVs

Tesla cars are seen at a showroom for the US electric vehicle maker at a mall in the Changning district of Shanghai on February 25, 2025. (AFP)
Tesla cars are seen at a showroom for the US electric vehicle maker at a mall in the Changning district of Shanghai on February 25, 2025. (AFP)
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Tesla Signs Deal for First India Showroom to Sell Imported EVs

Tesla cars are seen at a showroom for the US electric vehicle maker at a mall in the Changning district of Shanghai on February 25, 2025. (AFP)
Tesla cars are seen at a showroom for the US electric vehicle maker at a mall in the Changning district of Shanghai on February 25, 2025. (AFP)

US electric carmaker Tesla has signed a lease deal to open its first showroom in Mumbai, as it moves towards a goal to sell imported cars in India, registration papers show, after it dropped similar plans last year.

The papers show the company has signed a five-year lease from February 16, 2025 and will pay rent of about $446,000 for the first year for a 4,003 square feet (372 square meter) space, almost the size of a basketball court.

The rent will increase by 5% every year reaching about $542,000 for the fifth year, according to the registered lease document provided to Reuters by analytics firm CRE Matrix.

The showroom will be situated in the Maker Maxity building in the business and retail hub of Bandra Kurla Complex near the city's airport, according to the papers.

Reuters reported last month that Tesla has selected locations for two showrooms in the Indian cities of New Delhi and Mumbai, days after the carmaker's chief Elon Musk met India's Prime Minister Narendra Modi in the US.

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Apple Ordered by EU Antitrust Regulators to Open up to Rivals

Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo
Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo
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Apple Ordered by EU Antitrust Regulators to Open up to Rivals

Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo
Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo

Apple was ordered by EU antitrust regulators on Wednesday to open up its closed ecosystem to rivals, with the latter spelling out details on how to go about it in line with the bloc's landmark rules and where non-compliance could lead to an investigation and fines.

The move by the European Commission came six months after it opened so-called specification proceedings to ensure that the iPhone maker complies with the Digital Markets Act (DMA) which seeks to rein in the power of Big Tech.

The first EU order requires Apple to give rival makers of smartphones, headphones and virtual reality headsets access to its technology and mobile operating system so they can connect with iPhones and iPads seamlessly, Reuters reported.

The second EU order sets out a detailed process and timeline for Apple to respond to interoperability requests from app developers.

Apple slammed the EU order, saying it would hurt users and help its rivals.

"Today's decisions wrap us in red tape, slowing down Apple's ability to innovate for users in Europe and forcing us to give away our new features for free to companies who don't have to play by the same rules," the company said in an email.

"It's bad for our products and for our European users. We will continue to work with the European Commission to help them understand our concerns on behalf of our users," added Apple.

"With these decision, we are simply implementing the law, and providing regulatory certainty both to Apple and to developers," EU antitrust chief Teresa Ribera said in a statement.

Apple could face an investigation if regulators subsequently find that it has not followed through on the order that could lead to a fine as much as 10% of its global annual sales.