September 26, 2023

Elon Musk Assures “Significant Investment in India” during Meeting with PM Modi

During Prime Minister Narendra Modi’s visit to the United States, he met with Tesla CEO Elon Musk to discuss various topics, including the highly anticipated entry of Tesla into the Indian market.

Musk expressed his intention to bring Tesla to India, stating, “I am confident that Tesla will be in India and we will do so as soon as humanly possible.” While a specific timeline was not provided, Musk hinted at a “significant investment” in the country.

PM Modi encouraged Musk to explore opportunities for investments in electric mobility and the expanding commercial space sector in India. Musk expressed gratitude for the Prime Minister’s support and mentioned the likelihood of a future announcement regarding Tesla’s plans in India.

Tesla officials had recently engaged in talks with the Indian government regarding the establishment of a factory in the country. The discussions included the possibility of manufacturing electric vehicles for both domestic and export markets. However, details regarding the location and investment were not disclosed.

In the previous meeting, the potential models to be offered in India and the establishment of a battery manufacturing plant were also discussed. Tesla sought advice on availing the local Production Linked Incentive (PLI) scheme, which supports manufacturing in India.

The renewed dialogue between Elon Musk and PM Modi indicates the continued efforts to bring Tesla’s operations to India, with the promise of significant investment on the horizon.

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