Per Reuters
Tesla eyes India expansion with potential 'significant investment'
6/21/2023
With more tech companies already expanding in India, Tesla could be the latest company to join the list after Elon Musk spoke with India's Prime Minister Narendra Modi regarding the car market. The billionaire talked about making a potential "significant investment."
Musk reportedly commented on the potential for growth within the country, saying that they are confident that Tesla could be in India soon. The statements by Musk also talked about how they intend to make that "significant investment."
Musk: "He (Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do... I am confident that Tesla will be in India and will do so as soon as humanly possible."
Aside from Tesla, the billionaire also commented on how he hoped to bring another company's services to India. Specifically, Musk hoped to bring SpaceX's Starlink satellite internet service to the country.
Elon Musk had reportedly been invited to explore opportunities in India for potential investments "in electric mobility and rapidly expanding commercial space sector" by Modi, according to India's foreign minister spokesperson.
In May, it was reported that Amazon plans to scale investments in India with a $12.7 billion budget for cloud infrastructure by 2030. Apple iPhone maker Foxconn also said in March that they plan to invest in a $700 million plant in the country.
See flow at unusualwhales.com/flow.
Other News:
- Amazon plans to scale investments in India with a budget of $12.7 billion for cloud infrastructure by 2030
- Apple, AAPL, iPhone maker Foxconn plans $700 million plant in India, in shift away from China
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