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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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After meeting Modi, Musk says Tesla may invest heavily in India.

India's Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during th... India's Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during their meeting in New York City, New York, U.S., June 20, 2023. India's Press Information Bureau/Handout via REUTERS
India's Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during th... India's Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during their meeting in New York City, New York, U.S., June 20, 2023. India's Press Information Bureau/Handout via REUTERS

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According to Reuters partner ANI, Tesla (TSLA.O) CEO Elon Musk said India’s Prime Minister Narendra Modi was pressing the vehicle maker to make a “significant investment” in the country, and an announcement was due shortly.

His remarks followed Modi’s Tuesday meeting in the US. Reuters reported that Musk would update Modi on India’s manufacturing plans.

Musk said he hopes to deliver SpaceX’s Starlink satellite internet service to India and solar power, stationary battery packs, and electric vehicles.

“He (Modi) really cares about India because he’s pushing us to make significant investments in India, which we intend to do,” Musk told ANI.

The foreign ministry said Modi invited the electric vehicle company to invest in India’s electric mobility and commercial space sectors.

Musk said: “I am confident that Tesla will be in India and will do so as soon as humanly possible.”

Musk called Modi “a fan” and plans to visit India next year.

“Hi, Elon Musk. “We discussed energy, spirituality, and more,” Modi tweeted hours after the encounter.

Last month, Tesla executives met with Indian bureaucrats and ministers to discuss manufacturing cars and batteries in India.

Last month, Musk said Tesla would probably pick a new factory location before the year’s end, adding India seemed fascinating.

In light of Washington-Beijing tensions, U.S. corporations should minimize their manufacturing in China. Due to excessive import taxes, Tesla abandoned India last year.

Modi met with Musk, Twitter’s owner, days after Twitter co-founder Jack Dorsey accused India of threatening to shut down the network for not complying with content takedown requests during a 2020-2021 protest. India branded the claim an “outright lie.”

Twitter must follow local laws. “If we don’t obey local government laws, we’ll get shut down,” Musk told reporters on Tuesday.


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