Dinesh Sharma
Elon Musk is travelling to India over the weekend to meet Prime Minister Narendra Modi on Monday morning. Sources close to the visit are saying Tesla Chief Musk is expected to announce major investment plans of $2 bn – 3 bn of his company for India.
After meeting with the PM he is expected to meet business leaders from EV and space startups. Musk is hoping to leverage Indian market. He’s likely to make announcement of importing cars from Germany to India and start manufacturing in next 3 years from now. Tesla teams are already looking for locations within India.
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Detailed meeting is also scheduled with space startup’s to name some like Agnicool, Skyroute and Static.
Announcement on space sector as well is expected on Starlink satellite based connectivity to India for which the regulatory decks have been cleared hoping Musk makes announcement on the same.
The entire automobile and component sector is watching this move very closely. Tesla is also expected to increase local sourcing from the country in next few years from companies like Tata electronics and also from automobile components.
Tesla plans to move into India comes when company is battling weakening of sales in United States and China.
Also Indian government is eagerly waiting for the visit and have already made it clear that any company is welcome to manufacture in our country as we have youth which is both qualified and skilled. Big companies coming here will send a positive message that our policies are good.
Elon Musk had last year in June, 2023 had met PM Modi in New York.
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