Tesla's CEO Signals significant India investments after meeting Modi
Tesla CEO Elon Musk met with Indian Prime Minister Narendra Modi on June 20, 2023, to discuss the possibility of Tesla investing in India.
The meeting between Musk and Modi comes at a time when Tesla is facing challenges in India. Musk mentioned India as a potential destination for a new factory when he stated last month that Tesla would likely choose a site by the end of this year.
Musk said that he was “confident” that Tesla would be in India “as soon as humanly possible,” and that he was “excited” about the potential for the Indian market.
Modi said that he was “looking forward” to working with Tesla to “make India a global hub for electric vehicles.”
Musk said that he aims to introduce SpaceX’s Starlink satellite internet service to India as well, noting that the country has significant potential for a sustainable energy future that includes solar power, stationary battery packs, and electric vehicles.
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The company has been unable to import its cars into India due to high import duties, and it has also faced opposition from local automakers.
Although it is unclear whether Tesla will be able to overcome its obstacles in India, the meeting between Musk and Modi is encouraging for the company’s chances in the nation.
However, Musk has said that he is committed to bringing Tesla to India, and he believes that the Indian market has the potential to be “huge” for the company.
India’s foreign ministry spokesperson tweeted saying Modi had invited Musk to “explore opportunities in India for investments in electric mobility and rapidly expanding commercial space sector.”
India made it possible for private launches in 2020 and hopes that within the following ten years, its private space enterprises will have a five-fold increase in market share.
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