Tesla CEO Elon Musk has announced plans to invest $2-$3 billion for a new factory in India. Musk made the announcement during a meeting with Indian Prime Minister Narendra Modi, where they discussed opportunities for investments in electric mobility and the commercial space sector.
Potential Investments in India
Musk and Modi discussed several potential investment opportunities in India, including the following:
Electric Mobility
Tesla’s investment in a new factory in India would be a significant step towards expanding the company’s presence in the growing Indian electric vehicle market. The factory would likely produce Tesla’s more affordable models, making them more accessible to Indian consumers.
Commercial Space Sector
In addition to electric mobility, Musk and Modi also discussed potential investments in India’s commercial space sector. This could involve collaborations between Tesla’s space division, SpaceX, and India’s space agency, ISRO, to develop new space technologies and launch services.