Tesla’s Musk eyes significant India investments after meeting Modi

Published June 21, 2023
India’s Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during their meeting in New York City, New York, US, June 20. — Arindam Bagchi Twitter
India’s Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during their meeting in New York City, New York, US, June 20. — Arindam Bagchi Twitter

Tesla chief executive Elon Musk said India’s Prime Minister Narendra Modi was pushing the carmaker to make a “significant investment” in the country, adding that such an announcement was expected soon.

His comments came after a meeting with Modi on Tuesday during the Indian leader’s state visit to the United States. A source previously told Reuters that Musk would brief Modi on plans to set up a manufacturing base in India.

India has strong potential for a sustainable energy future, including solar power, stationary battery packs and electric vehicles, Musk said, adding that he hopes to bring SpaceX’s Starlink satellite internet service to India as well.

“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.”

Later, India’s foreign ministry spokesperson tweeted saying 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 US companies to initially collaborate with Indian firms for investments in its space sector, a source familiar with the matter told Reuters.

India opened the way for private launches in 2020 and wants its private space companies to increase their share of the global launch market by five-fold within the next decade.

Executives of Tesla visited India and held talks with Indian bureaucrats and ministers last month on establishing a manufacturing base for cars and batteries in India.

Musk said last month Tesla would probably pick a location for a new factory by the end of this year, adding India was an interesting place for a new plant.

US companies need to reduce reliance on China as a manufacturing base in the face of tensions between Washington and Beijing. Tesla last year shelved its India entry plans due to high import tax structures.

Modi’s meeting with Musk, who owns Twitter, came days 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 called the allegation an “outright lie”.

“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.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Missing in action
17 Mar, 2026

Missing in action

NOT exactly known for playing a proactive role in protecting the interests of Muslim nations and populations...
Risk to stability
Updated 17 Mar, 2026

Risk to stability

THE risks to Pakistan’s fragile economic recovery from the US-Israel war on Iran cannot be dismissed. Yet the...
Enrolment push
17 Mar, 2026

Enrolment push

THE federal government has embarked upon the welcome initiative to enrol 25,000 out-of-school children in Islamabad...
Holding the line
16 Mar, 2026

Holding the line

PAKISTAN’S long battle against polio has recently produced encouraging signs. Data from the national eradication...
Power self-reliance
Updated 16 Mar, 2026

Power self-reliance

PAKISTAN’S transition to domestic sources of electricity is a welcome development for a country that has long been...
Looking for safety
16 Mar, 2026

Looking for safety

AS the Middle East conflict enters its third week, the war’s most enduring victims are not those who wage it....