After meeting with the country’s Prime Minister, Narendra Modi, Elon Musk, the tech tycoon and CEO of Tesla, hinted towards a potential investment plan for India.
The meeting came as a part of Modi’s three-day state visit to the U.S., where he is scheduled to interact with officials from the Biden administration and various business executives.
Potential Future in India
During the conversation, Musk expressed his perspective on India’s potential to be a stronghold for a sustainable energy future. As per a report by Reuters, Musk was anticipated to brief the Prime Minister about Tesla’s plan to establish a manufacturing base in India. The Tesla CEO, who has been at the helm of Twitter since the previous year, underscored the country’s potential in areas like solar power, stationary battery packs, and electric vehicles. Musk further revealed his plans to bring SpaceX’s Starlink satellite internet service to India.
Tesla’s Manufacturing Plant
Musk’s interaction with Modi highlighted his confidence in Tesla’s entry into India. “He (Modi) cares about India because he’s pushing us to make significant investments in India, which is something we intend to do,” Musk stated, adding that Tesla’s foray into India would happen “as soon as humanly possible.” Musk’s tweet acknowledging his meeting with Modi further reiterated his intentions.
In response, India’s foreign ministry spokesperson revealed that Prime Minister Modi had invited Musk to explore investment opportunities in India’s rapidly growing electric mobility and commercial space sectors.
Reuters reported that New Delhi is considering collaborations between U.S. companies and Indian firms for investments in its space sector. After facilitating private launches in 2020, India aims to increase its share of the global launch market fivefold within the next decade.
Last month, Tesla executives visited India to discuss possibly setting up a manufacturing base for cars and batteries in the country. Musk also hinted that India could be a potential location for a new factory, with a decision expected by the end of this year. However, last year, Tesla had to put its India entry plans on hold due to high import tax structures.
The meeting with the Indian Prime Minister also comes in the backdrop of allegations by Twitter co-founder Jack Dorsey, who accused India of threatening to shut down the platform due to non-compliance with content takedown orders during a protest in 2020-2021. India dismissed the allegation as an “outright lie.” In response, Musk stated that Twitter must obey local government laws to avoid being shut down.
