Elon Musk, the Chief Executive of Tesla Inc., recently had a meeting with India's Prime Minister, Narendra Modi, during the latter's visit to the United States. The purpose of the meeting was to discuss potential plans for Tesla to establish manufacturing facilities in India for its electric vehicles and batteries.
Following the meeting, Elon Musk expressed his satisfaction with the conversation, describing it as "excellent." He further stated his confidence that Tesla would enter the Indian market as soon as feasible, with the hope of making an official announcement in the near future. Musk also expressed his desire to visit India personally in the coming year.
During a subsequent news conference, Elon Musk highlighted Prime Minister Modi's push for Tesla to make significant investments in India, emphasizing their intention to do so. This meeting aligns with the current trend of American companies seeking to diversify their supply chains away from China, as India is viewed as a promising growth market. Musk indicated that he is likely to select a location for a new Tesla factory by the end of the year.
In addition to electric vehicles, Musk acknowledged the immense potential for sustainable energy production in India, particularly through solar and wind energy generation. He also expressed interest in introducing Starlink satellite internet to serve remote and rural areas of India.
Musk conveyed his admiration for Prime Minister Modi, stating that he holds a favorable opinion of him. It is worth noting that earlier this year, Twitter, a platform owned by Musk, faced criticism in India for blocking numerous critics of Prime Minister Modi, which led to accusations of censorship.
As a leading independent research provider, TradeAlgo keeps you connected from anywhere.