Prime Minister Modi’s US tour attracts the attention of global investors like Elon Musk and Ray Dalio. Elon Musk highlights India’s potential for a sustainable energy future, particularly in electric vehicles.
India plans to allow select US companies to collaborate with Indian firms in the space sector. The country aims to increase its private space companies’ global launch market share by five-fold in the next decade.
Tesla CEO Elon Musk expressed his interest in investing in India’s electric car market. He plans to invest in India and believes in the potential for sustainable energy development.
Tesla Factory Land Acquisition
Previously, Tesla executives visited India, engaging in discussions with bureaucrats and ministers for establishing a manufacturing base. Musk stated that by year-end, Tesla will likely choose a location for a new factory in India. His remarks suggest India’s attractiveness as a potential location for Tesla’s new factory.
What Ray Dailo Said
Billionaire investor Ray Dalio also believes India is on the brink of transformative changes and exciting opportunities. Ray Dalio acknowledges India’s growth prospects and sees significant opportunities for investment.
Ray Dalio recognizes the time has come for India to seize remarkable opportunities and undergo rapid changes. India’s growth potential captivates the attention of billionaire investor Ray Dalio and Tesla’s Elon Musk.
What Elon Musk Had to Say
Elon Musk expresses great excitement about the future of India, considering it highly promising. Tesla’s CEO intends to make significant investments in India and is currently determining the appropriate timing.
The meeting with Prime Minister Narendra Modi was fantastic, and Elon Musk holds him in high regard. Modi’s visit to Tesla’s Fremont factory showcased his genuine commitment to India’s welfare. Elon Musk believes Modi aims to support new companies while ensuring India’s benefit. He admires Modi and sees immense potential for a sustainable energy future in India.
He said the three pillars of sustainable energy generation, stationary battery packs and electric vehicles are essential in India. Implementing sustainable energy solutions is not only environmentally friendly but also cost-effective.
Elon Musk plans a tentative visit to India next year and eagerly anticipates it. He stated he looks forward to contributing to India’s progress and exploring investment opportunities there.
US companies seek alternatives to China as tensions between Washington and Beijing persist. Import tax structures previously deterred Tesla’s entry into India, leading to shelved plans.
Twitter issue
Prime Minister Modi met with Musk after Twitter co-founder Jack Dorsey accused India of threats against the platform. Musk addressed the obligation of Twitter to comply with local government laws.
Door for Private Industrial Investment Now Open For India
The country’s decision to open doors for private launches in 2020 has paved the way for increased private space activities. Tesla’s discussions with Indian officials indicate the company’s interest in establishing a manufacturing presence in India.
More than only EVs
Elon Musk’s investments appear not limited solely to electric cars, as indicated by recent developments.
Elon Musk is exploring possibilities beyond electric vehicles. He will potentially show involvement in India’s space industry through SpaceX collaboration. Furthermore, he hopes to introduce the Starlink satellite internet service to India, aiming to bridge the connectivity gap in remote areas. Musk’s commitment to EVs remains strong, with Tesla’s plans for a new factory indicating continued expansion in the electric vehicle market.
According to a Tweet by India’s foreign ministry, Prime Minister Modi raised the topic of the space industry during discussions. Additionally, a Reuters source revealed that India is considering permitting collaboration between select US companies and Indian firms in the space market, potentially including Musk’s SpaceX.
India has set ambitious goals for its private space-launch companies, aiming to increase their launch market share by five times within the next ten years. Musk expressed optimism regarding the prospects of his Starlink satellite internet service in India. He mentioned that Starlink could greatly assist remote or rural villages lacking access to affordable and fast internet connectivity.
