Tesla Power USA revolutionizes the industry by giving batteries on the lease; Plans to invest USD 1 billion

New Delhi, September 22, 2022
Tesla Power USA, a leading manufacturer and the fastest-growing brand of batteries in India, today announced its scheme to empower Micro, Small, and Medium Enterprises (MSMEs) in India with batteries on lease/rent under an innovative and unique OPEX Model. The company plans to invest nearly Rs 8,000 crore (USD 1 billion) by 2025 to expand its unique model and would revolutionize the industry by giving batteries on lease. With affordable energy storage, the company envisages strengthening MSMEsthat contribute significantly to the growth of the Indian economy.

“There are approximately 9.5 million MSMEs in India as per the Ministry of MSMEs data. The sector has been facing several challenges including a credit crunch with the RBI’s tightening of monetary policy, untimely payments from the clients and high-costdisrupted power supply. Frequent power cuts are their main pain points and getting a battery along with UPS increases their capital expenditure. Now, to empower them with affordable batteries on a lease basis, we have included SMEs in our model,” said Kavinder Khurana, Managing Director, Tesla Power USA.

“Under our PaaS model, an enterprise does not need to buy a battery as it can lease/rent from us and we would provide full maintenance service too. They would require us to pay rent only on monthly basis and in case of any fault, we would replace that with a new one. We would be empowering SMEs by converting their CAPEX into OPEX,” added Mr Khurana.

The ‘Batteries on Lease’ model would reduce the burden of upfront investment, maintenance, and replacement of batteries for a long duration thus empowering MSMEs to get uninterrupted power supply.