- Tesla's CEO, Elon Musk, expresses fervent anticipation about India's future, praising its unparalleled potential among global powers.
- Musk reveals plans for significant investments in India, primarily focusing on sustainable energy, electric vehicles, and enhancing internet connectivity with SpaceX's Starlink service.
- During Prime Minister Narendra Modi's U.S. visit, Musk voices his support for Modi's leadership, appreciating his efforts to encourage foreign investments in India.
Tesla's illustrious CEO, Elon Musk, recently expressed his profound enthusiasm about the potential of India, referring to it as a nation with unparalleled promise among other substantial countries across the globe.
In a video interview published on the YouTube page of Prime Minister Narendra Modi, Musk revealed his admiration for the leader. He remarked that Modi is someone who is resolutely striving to steer India towards prosperity, supporting new businesses while simultaneously ensuring the nation reaps the benefits. This interaction took place in New York, following their previous meeting in 2015 at Tesla’s Fremont Factory in California.
Prime Minister Modi is currently on his inaugural state visit to the United States, engaging in crucial discussions with political and business leaders concerning defense, technology, and India’s positioning in the Indo-Pacific. This includes an invitation to a prestigious White House dinner hosted by President Joe Biden, where Modi is anticipated to rub shoulders with other influential figures such as Tim Cook of Apple, Google’s Sundar Pichai, and Microsoft’s Satya Nadella.
Musk shared his intention of making considerable investments in India, validating Modi's efforts to encourage foreign investments into the nation. This comes as India is increasingly recognized as a significant growth prospect for Tesla. Nilesh Shah of Kotak Mahindra Asset Management told CNBC that every U.S. company with an Indian subsidiary has experienced significant growth and value creation in the nation, thereby offering a promising partnership for both countries.
Tesla's intended investments primarily target sustainable energy generation, particularly through solar and wind power. Musk noted that due to India's geographic advantages, the land area required for solar power generation is comparatively minimal. In addition, the company plans to invest in stationary battery packs and electric vehicles. Musk also hinted at bringing SpaceX's Starlink satellite internet service to India to enhance the country's internet connectivity, particularly in remote and rural areas.
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