Tesla CEO Elon Musk is considering making substantial investments in India following his meeting with Prime Minister Narendra Modi.

Elon Musk: India’s Prime Minister Pushing for Tesla Investment

By Hyunjoo Jin and Shivangi Acharya

SAN FRANCISCO/NEW DELHI (Reuters) – Tesla chief executive Elon Musk revealed that India’s Prime Minister Narendra Modi is urging the car maker to make a “significant investment” in the country. Musk stated that an announcement regarding this investment is expected soon.

Musk’s comments came after a meeting with Modi on Tuesday during the Indian leader’s state visit to the United States. Musk had plans to discuss the establishment of a manufacturing base in India with Modi, according to a source.

Musk sees India as having strong potential for a sustainable energy future, including solar power, stationary battery packs, and electric vehicles. He also expressed his hope to bring SpaceX’s Starlink satellite internet service to 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,” Musk told reporters after the meeting.

“I am confident that Tesla will be in India and will do so as soon as humanly possible.”

India’s foreign ministry spokesperson tweeted that Modi had invited Musk to “explore opportunities in India for investments in electric mobility and rapidly expanding commercial space sector.”

The South Asian country is now looking to allow some U.S. companies to collaborate with Indian firms for investments in its space sector, with the goal of increasing their share of the global launch market by five-fold within the next decade.

Tesla executives recently visited India and held talks with Indian bureaucrats and ministers regarding the establishment of a manufacturing base for cars and batteries. Musk previously stated that Tesla would likely choose a location for a new factory in India by the end of this year.

With tensions between Washington and Beijing, U.S. companies are seeking to reduce their reliance on China as a manufacturing base. Tesla had previously postponed its plans to enter India due to high import tax structures.

Modi’s meeting with Musk, who also owns Twitter, took place shortly after Twitter co-founder Jack Dorsey accused India of threatening to shut down the platform for not complying with content takedown orders during a 2020-2021 protest. India denied the allegation.

“Twitter does not have a choice but to obey local governments. If we don’t obey local government laws, we will get shut down…,” Musk told reporters on Tuesday.

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