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Elon Musk Explores Prominent Investments in India Following Meeting with Modi

Elon Musk, the CEO of Tesla, has revealed that India’s Prime Minister, Narendra Modi, is urging the car manufacturer to make a substantial investment in the country. Musk expects an official announcement regarding this matter in the near future. The discussion between Musk and Modi took place during the Indian leader’s recent visit to the United States. Prior to the meeting, it was reported that Musk would discuss the establishment of a manufacturing base in India.

Musk expressed his belief that India holds great potential for a sustainable energy future, including opportunities in solar power, stationary battery packs, and electric vehicles. Additionally, he expressed his intention to introduce SpaceX’s Starlink satellite internet service in India. Musk stated that Modi’s commitment to India was evident in his push for significant investments from Tesla. Musk assured reporters that Tesla would establish a presence in India as soon as possible.

India’s foreign ministry spokesperson later tweeted that Modi had invited Musk to explore investment opportunities in the country, particularly in the electric mobility and rapidly expanding commercial space sectors. Reuters reported that India is considering allowing certain U.S. companies to collaborate with Indian firms for investments in its space industry. The country aims to increase the market share of its private space companies by five-fold within the next decade.

Executives from Tesla recently visited India and engaged in discussions with government officials and ministers regarding the establishment of manufacturing facilities for cars and batteries. Musk announced last month that Tesla would likely select a location for a new factory by the end of this year, highlighting India as an intriguing option.

This pursuit aligns with the broader trend among U.S. companies to diversify their manufacturing bases and reduce reliance on China, given the escalating tensions between Washington and Beijing. However, Tesla’s previous plans to enter the Indian market were put on hold last year due to high import taxes.

Modi’s meeting with Musk, who is also the owner of Twitter, took place shortly after Twitter co-founder Jack Dorsey accused India of threatening to shut down the platform for failing to comply with content takedown orders during protests that took place between 2020 and 2021. The Indian government denied Dorsey’s allegations. Regarding this matter, Musk emphasized that Twitter has no choice but to comply with local government regulations, as non-compliance could result in the platform being shut down.

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