After a meeting with Prime Minister Narendra Modi, Elon Musk, the CEO of Tesla, confirmed that the company will be entering the Indian market “as soon as humanly possible.” While no specific timeline was given, Musk tentatively plans to visit India next year. The initial plans to establish a base in India were put on hold last year due to disagreements over local manufacturing requirements. However, the recent meeting between Musk and Prime Minister Modi indicates a renewed interest in the Indian market.
Musk expressed his admiration for Prime Minister Modi, stating that he is “a big fan” and that Modi is pushing for significant investments in India. The Indian government also extended an invitation to Musk to explore investment opportunities in the electric mobility and commercial space sectors. Musk praised Modi’s support for new companies and his desire to benefit India through these investments.
Regarding Tesla’s plans in India, Musk highlighted the country’s potential for sustainable energy generation, particularly through solar and wind power. He emphasized the small land area required to generate enough electricity to power India, making it an attractive location for sustainable energy initiatives. Tesla has already registered its business in India and has been testing its vehicles in the country. However, the government has urged Tesla to start local production before considering tax breaks.
In addition to Tesla’s entry into India, Musk expressed his interest in bringing SpaceX’s Starlink satellite internet service to the country. He believes it could be especially beneficial for connecting remote or rural areas without access to reliable internet connectivity.
The meeting between Musk and Modi on 21 June 2023 follows a series of discussions with thought leaders and entrepreneurs during the prime minister’s visit to the United States. The confirmation of Tesla’s plans to enter the Indian market aligns with India’s growing interest in electric vehicles, as reflected in the increasing sales of luxury electric vehicles in the country.
Overall, Musk’s positive remarks and the Indian government’s encouragement indicate a promising future for Tesla’s presence in India, along with potential investments in sustainable energy and space exploration sectors.
