Musk To Meet Modi, Spurring Tesla Investment In India Talk
Musk is likely to announce his investment plans for India, including setting up a manufacturing facility during the visit.
(Bloomberg) --
Tesla Inc. Chief Executive Officer Elon Musk is set to visit India and meet with Prime Minister Narendra Modi, sparking speculation about the US company’s investments in the South Asian nation just ahead of the start of national elections.
Musk is expected to visit India this month, the Economic Times reported following his post on X Wednesday, a social-media platform he owns. He’s likely to announce his investment plans for the country, including setting up a manufacturing facility, the newspaper wrote.
The visit comes as Modi seeks a third term in office in elections starting later this month and will likely boost claims of the government’s success in attracting global capital in a range of industries from energy to technology and transport to help create jobs for millions of its youth.
Another topic that Musk will discuss during his meeting with Modi will be Starlink, the satellite business owned by Musk’s SpaceX, the Times of India reported Saturday, citing people it did not identify.
Separately, the Economic Times newspaper on Saturday reported Starlink could be granted conditional approval by the Indian government for a satellite communications license, citing people familiar with the matter. Conditions could include that Starlink won’t route data outside the country and won’t share certain details with the US about machines used in India, one of the people told the newspaper.
Starlink may also be asked to partner with an Indian company, the newspaper reported. Starlink provides space-based internet service to more than 2.6 million customers.
Rohan Patel, who looks after business development for Tesla, said in a post on X that media speculation existed everywhere and India was “not immune” to this.
Tesla has been weighing setting up an electric-vehicle plant in India, the world’s third-biggest greenhouse gas emitter that’s seeking to decarbonize its economy and turn net zero by 2070.
--With assistance from Dan Strumpf.
(Updates with media reports of Musk to discuss Starlink with Modi in fourth paragraph)
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