Tesla CEO Elon Musk Meets With Narendra Modi For Investment Talks In India
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The Chief Executive Officer of Tesla, Elon Musk, has said that India’s Prime Minister, Narendra Modi, wants the car maker to make a “significant investment” in India. Musk has also confirmed that such an investment is anticipated to happen soon.
Elon Musk meets with India’s Prime Minister
The announcements made by Musk come after a meeting between him and the Indian Prime Minister. The meeting happened during Modi’s state visit to the United States. According to Reuters, Musk was set to brief Modi about Tesla’s plans to have a manufacturing location in India.
India has much potential to promote a sustainable energy future. To achieve these plans, the country is focused on solar energy, electric vehicles, and stationary battery packs. According to Musk, he was also planning to launch the Starlink satellite internet service in India.
After the meeting, Musk told reporters that “He (Modi) really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do. I am confident that Tesla will be in India and will do so as soon as humanly possible.”
The foreign ministry in India also tweeted about this development, saying that Modi had invited Musk to explore the opportunities that were available in the country for investments related to electric mobility and to rapidly grow the commercial space industry.
India is open to collaborations with US companies
India has been looking forward to strategic collaborations with some US companies. The country is open to having US companies partner with Indian companies to secure investments across the space industry.
India paved the way for private launches in 2020, and it now intends to have space companies grow their share of the global industry by five times in the next ten years. Tesla executives also went to India and held discussions with Indian bureaucrats and ministers to set up a manufacturing base for batteries and cars in India.
Last month, Musk said that Tesla would set up a location for a new factory by the end of the year. Musk also said that India was an interesting base for a new plant in the country. US companies also need to reduce reliance on China as a manufacturing location amid growing tensions between China and the US.
The meeting between Musk and the Indian Prime Minister comes shortly after the co-founder of Twitter, Jack Dorsey, accused India of threats to shut down Twitter over its failure to comply with content takedown orders during a protest that happened between 2020 and 2021.
Musk, who took over Twitter towards the end of last year, said that the social media platform did not have a choice but to comply with the local regulatory framework. Musk said that failure to comply would lead to Twitter shutting down operations.
