Tech billionaire Elon Musk has hinted at Tesla’s plans to unveil its investment strategies for India following a meeting with Prime Minister Narendra Modi. Musk’s comments come as PM Modi embarks on a three-day state visit to the United States, where he will engage with Biden administration officials, business executives, and individuals from various fields.
Setting Up a Manufacturing Base in India
Musk was scheduled to discuss “plans to set up a manufacturing base in India” during his meeting with PM Modi. Musk, who also acquired Twitter last year, believes that India has immense potential for a sustainable energy future, including solar power, stationary battery packs, and electric vehicles. Moreover, he expressed his intentions to introduce SpaceX’s Starlink satellite internet service in India.
Elon Musk acknowledged PM Modi’s commitment to India, stating, “He really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do.” Musk further affirmed his confidence that Tesla would establish a presence in India at the earliest opportunity. The meeting between Musk and Modi was deemed an honor by both parties, as they exchanged tweets expressing gratitude and appreciation.
India’s foreign ministry spokesperson confirmed that PM Modi had invited Musk to explore investment opportunities in India’s electric mobility and expanding commercial space sectors. The Indian government is reportedly considering permitting select US companies to collaborate with Indian firms for investments in the country’s space sector. India aims to increase its private space companies’ share of the global launch market five-fold within the next decade.
Previous Interactions and Challenges
Tesla executives had visited India and engaged in discussions with government officials and ministers last month regarding the establishment of manufacturing facilities for cars and batteries in the country. Musk had previously stated that Tesla would likely finalize the location for a new factory by the end of this year, highlighting India as an attractive option. However, Tesla had postponed its entry into the Indian market last year due to high import tax structures.
The meeting between PM Modi and Elon Musk follows recent controversy involving Twitter co-founder Jack Dorsey, who accused India of threatening to shut down the platform for non-compliance with content takedown orders during protests in 2020-2021. India dismissed Dorsey’s allegations as an “outright lie.” Musk, as the owner of Twitter, commented on the matter, emphasizing that Twitter must adhere to local government laws to avoid closure, stating, “Twitter does not have a choice but to obey local governments. If we don’t obey local government laws, we will get shut down…”
Read more: Chinese desire for Elon Musk as US President
Elon Musk’s meeting with Prime Minister Narendra Modi has sparked anticipation that Tesla will announce its plans to establish manufacturing facilities in India. With Musk expressing his confidence in India’s potential for a sustainable energy future and PM Modi actively promoting investments in electric mobility and the space sector, this collaboration holds significant promise for both parties. As the Indian government opens doors for foreign investments in its space sector and aims for exponential growth, Tesla’s potential expansion into India would further strengthen India’s position as a key player in the electric vehicle industry and renewable energy sector.
