TESLA: Elon Musk to invest in India after meeting with prime minister Modi

Elon Musk, the CEO of Tesla, recently met with India’s Prime Minister Narendra Modi during the latter’s visit to the United States. Musk stated that Modi is encouraging Tesla to make a significant investment in India, and an announcement regarding this is expected soon. The Indian government is keen on fostering sustainable energy solutions like solar power, stationary battery packs, and electric vehicles.

Musk also expressed his intention to bring SpaceX’s Starlink satellite internet service to India. Following their meeting, Modi invited Musk to explore investment opportunities in India’s electric mobility and commercial space sector. India is now considering allowing collaboration between U.S. and Indian companies in its space sector, aiming to increase the market share of private space companies in the global launch market.

Additionally, Tesla executives recently visited India and engaged in discussions with government officials regarding the establishment of a manufacturing base for cars and batteries. Musk mentioned that Tesla is likely to select a location for a new factory in India by the end of this year. The move is part of U.S. companies’ efforts to reduce reliance on China as a manufacturing base amid ongoing tensions between the U.S. and China. Tesla had previously postponed its plans to enter the Indian market due to high import taxes.

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