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02.08.2023 - 18:17 / tech.hindustantimes.com / Elon Musk / Narendra Modi / Rajeev Chandrasekhar
Days after two of its senior executives reportedly had a meeting with Invest India officials last week to discuss plans of entering India and setting up a manufacturing eletric vehicle plant, Elon Musk's company Tesla India Motor & Energy Pvt Ltd has leased an office space in Panchshil Business Park in Viman Nagar, Pune.
The electric car manufacturer has entered into a five-year lease agreement with Tablespace Technologies Pvt Ltd to lease 5,850 sq.ft office on the first floor of B wing in Panchshil Business Park. Tesla will pay a monthly rent of ₹11.65 lakh and a security deposit of ₹34.95 lakh for leasing the space for 60 months. The lease deal will include five car parks and 10 bike parks as per the agreement registered on July 26, 2023, according to the documents accessed and shared by CRE Matrix, a real estate analytics firm.
According to the documents, two companies agreed for a lock in period of 36 months, with a 5% per annum escalation clause. The rent will commence from October 1, 2023.
Panchshil Business Park at Viman Nagar has a development size of 10,77,181 sq. Ft and is under construction, according to Panschil Realty website. It is located 500 m from Nagar Road and is just three kms from Pune international airport. It is easily accessible from residential areas like Kalyani Nagar, Koregaon Park, Wadgaonsheri and Kharadi.
Though Tesla's Indian subsidiary was registered in Bengaluru in 2021, the company's entry into India has been slow. A Reuters report in May said Tesla had proposed setting up a factory to build electric vehicles and manufacturing EV batteries in India. "They are very seriously looking at India as a production and innovation base," Rajeev Chandrasekhar, the Minister of State for Electronics and Information Technology of India, had told the agency in May.
In June, Musk had met Prime Minister Narendra Modi during his US trip and evinced interest in setting up a manufacturing facility in India. He had told reporters that Tesla was keen to make investments in India "I am confident that Tesla will be in India and will do so as soon as humanly possible," Musk was quoted as saying.
Two of Tesla's senior executives met with Invest India officials last week and have reportedly lined up more meetings in Delhi.
By Satish Nandgaonkar
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It is no news that Tesla is a pioneer in electric vehicle manufacturing. It keeps surprising its users with regular innovations and updates. It has now taken another step towards enhancing user experience by integrating Apple Shortcuts into its latest update. This feature enables Tesla owners to seamlessly automate and utilize Siri for convenient vehicle control. Isn't it amazing?
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Ian Burkhart looked down at his hand and imagined closing it. To his amazement, it closed.
In yet another major milestone for India, Union Minister Ashwini Vaishnaw on Friday inaugurated the country's first 3D printed Post Office at the Cambridge Layout in Bengaluru. The post office building was constructed by L&T Construction using a technology known as 3D Concrete Printing Technology, with guidance from the Indian Institute of Technology (IIT) Madras. The office spans about 1000 square feet and its construction was completed in a span of a mere 45 days, whereas traditional construction methods would have taken around 6-8 months to complete the same.
In 1995, Microsoft Corp. co-founder Bill Gates sent a memo calling the internet a “tidal wave” that would be crucial to every part of the company's business. Nearly two decades later, Microsoft's current leader, Satya Nadella, said he believes the impact of artificial intelligence will be just as profound.
Nearly half the environmentalists active on Twitter, now X, left the platform in the 6-months following Musk's takeover, researchers found and say this could have serious implications for public discourse surrounding issues such as biodiversity, climate change, and natural disaster recovery.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
In an arresting move that looks like the rest of the signature moves by billionaire entrepreneur Elon Musk, iconic Twitter artifacts have been put on the block. Musk is set to auction off an array of intriguing items from Twitter, just weeks after the platform's transformation into "X." This unique auction, entitled "Twitter Rebranding: Online Auction Featuring Memorabilia, Art, Office Assets & More!" is slated to showcase an astounding 584 lots of captivating treasures, including not just the expected office assets, but also coffee tables, remarkable bird cages, and art that once went viral.
A medieval king was nothing without his sage advisers. It's not so very different in the Silicon Valley of 2023.
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