Mr. Musk expresses deep admiration for Mr. Modi’s actions: “Suzuki moment” with Tesla!

Tesla is strategically expanding its presence beyond China, with a significant focus on entering the Indian market. The global electric vehicle (EV) giant is reportedly in advanced discussions to make a substantial entry into India, contemplating an impressive investment of nearly $30 billion over the next five years. This move is expected to have a transformative impact on India’s growing EV landscape, with $3 billion earmarked for the initial production of a new small car at an Indian manufacturing plant.

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The planned investment underscores Tesla’s commitment to catering to the needs of the broader developing world. Pending favorable policy conditions, Tesla aims to introduce its standard brands in the Indian luxury automobile market.

Simultaneously, the company plans to undertake the development and assessment of a charging infrastructure, a crucial component in the widespread integration of electric vehicles. Potential locations for Tesla’s plant in India include Tamil Nadu, Maharashtra, Gujarat, and Haryana, with a preference for a coastal state in the west or south, aligning with its export-oriented objectives.

Industry insiders suggest that this move could mark a pivotal moment for India’s electric vehicle sector, akin to the “Suzuki moment,” while also serving as an “Apple Plus moment” for the country’s manufacturing ambitions. Unlike Apple, Tesla operates as more than just an automaker; it is a multifaceted tech business involved in critical mineral mining, refining, semiconductor production, design, and ecosystem creation, with significant ripple effects across various industries.

Elon Musk’s admiration for India and Prime Minister Narendra Modi is evident in Tesla’s interest in the country. Musk, a vocal admirer of Modi’s energy and achievements for India, has engaged in discussions about Indian spirituality and meditation with the Prime Minister. Following a recent conversation, Musk expressed optimism about India’s potential for a sustainable energy future, encompassing solar energy, stationary battery packs, and electric cars. Musk also revealed his desire to introduce SpaceX’s Starlink satellite internet service in India.

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Highlighting Modi’s commitment to India, Musk stated that the Prime Minister is driving significant investments in the country, a sentiment echoed by an invitation for Musk to explore potential investments in India’s rapidly growing commercial space sectors and electric vehicle market. Musk affirmed his faith in Tesla’s swift entry into India, aligning with the country’s evolving industrial landscape.