Elon Musk, the CEO of Tesla, claimed that India's Prime Minister Narendra Modi was pressuring the automaker to make a "significant investment" in the nation, and that an announcement of this like was shortly to come.
After meeting Modi on Tuesday during the Indian president's state visit to the US, he made these remarks. Previously, a source informed Reuters that Musk would inform Modi of his intentions to establish a manufacturing base in India.
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.
"He (Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do," Musk told reporters after the meeting.
"I am confident that Tesla will be in India and will do so as soon as humanly possible."
Later, a representative for India's foreign ministry tweeted that Modi had asked Musk to "explore opportunities in India for investments in electric mobility and rapidly expanding commercial space sector."
According to a source familiar with the situation who spoke to Reuters, the South Asian nation is now seeking to permit some American businesses to work initially in tandem with Indian businesses for investments in its 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.
Tesla executives visited India last month and discussed setting up a base for manufacturing cars and batteries there with Indian ministers and bureaucrats.
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.
In light of the tensions between Washington and Beijing, American businesses need to rely less on China as a manufacturing hub. Tesla abandoned its efforts to enter India last year due to the country's high import taxes.
After Jack Dorsey, the co-founder of Twitter, accused India of threatening to shut down the network for failing to comply with content takedown requests during a 2020–2021 protest, Modi met with Musk, who owns Twitter, a few days later. The claim was referred to as a "outright lie" by India.
"Twitter does not have a choice but to obey local governments. If we don't obey local government laws, we will get shut down...," Musk told reporters on Tuesday.
(Source:www.financialexpress.com)
After meeting Modi on Tuesday during the Indian president's state visit to the US, he made these remarks. Previously, a source informed Reuters that Musk would inform Modi of his intentions to establish a manufacturing base in India.
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.
"He (Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do," Musk told reporters after the meeting.
"I am confident that Tesla will be in India and will do so as soon as humanly possible."
Later, a representative for India's foreign ministry tweeted that Modi had asked Musk to "explore opportunities in India for investments in electric mobility and rapidly expanding commercial space sector."
According to a source familiar with the situation who spoke to Reuters, the South Asian nation is now seeking to permit some American businesses to work initially in tandem with Indian businesses for investments in its 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.
Tesla executives visited India last month and discussed setting up a base for manufacturing cars and batteries there with Indian ministers and bureaucrats.
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.
In light of the tensions between Washington and Beijing, American businesses need to rely less on China as a manufacturing hub. Tesla abandoned its efforts to enter India last year due to the country's high import taxes.
After Jack Dorsey, the co-founder of Twitter, accused India of threatening to shut down the network for failing to comply with content takedown requests during a 2020–2021 protest, Modi met with Musk, who owns Twitter, a few days later. The claim was referred to as a "outright lie" by India.
"Twitter does not have a choice but to obey local governments. If we don't obey local government laws, we will get shut down...," Musk told reporters on Tuesday.
(Source:www.financialexpress.com)
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