“Welcome Elon Musk– Trending”
On Thursday, Elon Musk announced on his official X handle that he would be meeting with Prime Minister, Narendra Modi in India. Musk’s visit is expected to reveal Tesla’s grand project’s inauguration in the nation. Calculatively, building a firm that produces entry-level electric cars may require a substantial investment, probably between $2 and $3 billion.
Today, there is no second thought in the fact that Tesla is one of the world’s leading electric automobile manufacturers. It was founded in 2003 and has had a very long journey to its final progression.
The world’s second billionaire and CEO of Tesla, Elon Musk, will reportedly meet with Prime Minister Narendra Modi in India in April. In a post on X, he expressed his excitement over the meeting.
Looking forward to meeting with Prime Minister @NarendraModi in India!
— Elon Musk (@elonmusk) April 10, 2024
Users worldwide started commenting and sharing their thoughts on the Elon- Modi meeting. On Friday morning, the X platform was swamped with the hashtag “Welcome Elon Musk” from the Indian citizens.
Welcome to India 🇮🇳 🫡 #ElonMusk
— Gurpreet Maan (@imgurpreetmaan) April 12, 2024
While many netizens expressed their happiness with Elon’s announcement, many are assuming what else could be the reason behind Elon’s visit to India just before the Indian Lok Sabha Election.
On That Note
All signs point to Musk traveling to India to announce his investment plan for his giant project, Tesla, which has been laid over many years.
It is expected that Tesla will invest a minimum of $2–3 billion in the project. Outside the US, Tesla is currently being operated from two countries: Berlin, Germany, and Shanghai, China. Tesla’s entry into India gives the country’s Make-in-India project a big boost after it got another mega brand, Apple, to manufacture iPhones here.
But the question is, what does India offer an automobile giant like Tesla?
Why Tesla in India?
Economically speaking, India has a lot to offer Tesla when the iconic automaker is struggling with declining sales, plunging stock, low investor confidence, and a lack of new ideas amid growing competition from its American and European rivals and aggressive Chinese car makers.
Not only this, in a recent interview, Nicholas Colas, Co-founder of DataTrek Research, also stated, “There is not a lot of visibility on where Tesla’s next leg of growth will be — whether EVs or its other projects; if you are going to command a premium multiple you will have to have great earnings visibility or a fantastic story on why those earnings will show up in the future. Tesla has neither at the moment.”
Reportedly, considering all the inside-out facts, if Tesla produces and markets its cost-effective EV in India, the country’s sizable automobile market may provide it with much-needed room to grow.
Elon- Modi Meeting
Moving forward, let us inform you that in June last year, Indian Prime Minister Narendra Modi and Elon Musk met. Following the meeting in New York, Musk said, “I am confident that Tesla will be in India… as soon as humanly possible.”
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