Elon Musk Meets Prime Minister Modi, Announces Tesla's Investment Plans for India

21 Jun 2023 , 11:43 AM

Tesla CEO Elon Musk announces plans to invest in India ‘as soon as humanly possible’ during a meeting with Indian Prime Minister Narendra Modi in New York.

Musk intends to establish a manufacturing base in India and expresses confidence in Tesla’s presence in the country. He mentions his upcoming visit to India next year.

Musk appreciates Prime Minister Modi’s support and looks forward to making an announcement in the near future. Musk acknowledges Modi’s visit to a Tesla factory in California in the past and expresses admiration for the Indian prime minister.

Emphasizing India’s potential for a sustainable energy future, Musk highlights opportunities in solar power, stationary battery packs, electric vehicles, and even the potential introduction of Starlink satellite internet service.

Tesla executives recently visited India and engaged in discussions with Indian officials regarding the establishment of a manufacturing base for cars and batteries. Tesla aims to select a location for a new factory by the end of this year and considers India an attractive prospect.

The ongoing tensions between the United States and China have prompted U.S. companies to seek alternatives to China as a manufacturing base, making India an appealing option. Tesla had previously delayed its entry into India due to high import tax structures but is now actively exploring opportunities.

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