Elon Musk, CEO of Tesla, recently, he met with India’s Prime Minister Narendra Modi and hinted at a significant investment in the country. This announcement is highly anticipated and marks an incredible opportunity for India to transition towards electric mobility. In this blog post, we will explore the details of Musk’s meeting with Modi and the potential implications for Tesla and India’s auto industry.
All you need to know of Musk’s ambitions lie within the transcript of the interview he gave after meeting with Modi:
I’m actually incredibly excited about the future of India. I think India has more promise than any big country in the world. I’m Incredibly excited about the future of India. He (Modi) really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do. In a nutshell tt was a fantastic meeting with the Prime Minister. I like him quite a lot. He visited our Freemont factory several years ago. So we’ve known each other for a while.
He really wants to do the right thing for India. He wants to be open. He wants to be supportive of new companies. I am a fan of Modi.
There is tremendous amount of potential for all three pillars of the sustainable energy future. The three pillars being sustainable energy generation through solar and wind primarily, obviously India is great for solar. The amount of land area you’d actually need to generate enough electricity to power India is actually quite small. I believe it would probably be 1% or 2% of the land area in India so it’s very doable. You need to pair that with stationary battery packs because the sun doesn’t shine at night and then you need electric vehicles. And then you have a sustainable energy future. The interesting thing that people find is that this is a lower cost way to go. That may surprise people. We are hopefully looking forward to bringing installing to India as well. Installing internet which could be incredibly helpful to remote or rural villages that may have no access to internet or the internet is slow.
Do you plan to visit India anytime soon? Did the Prime Minister extend an invitation to you?
He did. And yes, I am tentatively planning to visit India next year. I am looking forward to it. I am confident that Tesla will be in India and will do so as soon as humanly possible.
During his meeting with Modi, Musk discussed Tesla’s plans to set up a manufacturing base in India. This move is in line with Tesla’s global expansion strategy to increase its footprint in emerging markets. India’s auto industry, while still in its infancy, is poised for growth, and electric cars are seen as the future of transportation. Musk acknowledged this potential, stating that India could become a major market for electric vehicles in the future.
You don’t need to read around the lines, but rather just need to read what Elon is saying directly. A significant investment from Tesla is likely coming to India (as long as the deal & timing are right) and will be a big deal to the core mission of Tesla. 🇮🇳⚡️ $TSLA
“I’m… pic.twitter.com/NEx30sWSb4
— Teslaconomics (@Teslaconomics) June 21, 2023
In addition to their discussion on manufacturing, Modi also invited Musk to explore investment opportunities in India’s rapidly expanding commercial space sector. This highlights Modi’s focus on advancing technological innovation and attracting foreign investment to India. For Musk, this collaboration could mean expanding his space exploration company, SpaceX, by potentially partnering with Indian companies.
Tesla’s entry into India’s auto market has been highly anticipated for years, but the company has faced challenges in navigating the complex regulatory landscape and the lack of infrastructure for electric cars. However, Musk’s meeting with Modi signals a positive shift towards overcoming these obstacles. India’s government has been taking measures to promote electric vehicles, including offering incentives and tax breaks for manufacturing and purchasing electric cars.
If Tesla does announce a significant investment in India, it could pave the way for more foreign investment in the country’s auto industry. This could also accelerate India’s transition towards electric vehicles and make it a major player in the global electric car market.
Conclusion:
Elon Musk’s meeting with Prime Minister Modi could prove to be a game-changer for India’s auto industry. Tesla’s potential investment in the country marks a significant milestone in India’s journey towards sustainable and environmentally-friendly transportation. If Tesla can navigate the regulatory hurdles and infrastructure challenges, it could become a dominant player in India’s electric car market and potentially propel India’s auto industry to new heights. This is an exciting development for India and Tesla alike, and we look forward to seeing how this partnership will develop.