NASDAQ stock in focus – Tesla CEO Elon Musk: India more promising "than any other major country in the world"

Indian Prime Minister Narendra Modi recently paid a state visit to the United States. During his time in the United States, he also met Tesla CEO Elon Musk. Musk only found words of praise for the prime minister, while Modi wanted to convince the Tesla boss to invest in India.

• India’s Prime Minister Modi travels to the USA for a state visit
• Meeting of Tesla boss Elon Musk with modes
• Musk plans investments in India

India’s Prime Minister Narendra Modi recently paid a state visit to the United States and was welcomed as a state guest by US President Joe Biden. During the meeting, the two heads of state reached various economic and military agreements and emphasized the partnership between their two nations. The good relationship with India is of great importance for the USA, after all the country is the most populous in the world. In addition, the relationship with the important global player China has deteriorated in recent years, making a good connection with India all the more important.

Tesla boss Elon Musk also took the opportunity to meet Modi again during his trip to the USA. The two last met in 2015 when the Indian PM visited Tesla’s Gigafactory in Fremont, California.

At a press conference after the meeting, Musk gave a sneak peek at the topics Modi and the Tesla CEO discussed, as seen in a edited YouTube video on Modi’s channel.

Tesla plans India investment

Musk was “very excited” about India’s future. In his opinion, the country is “more promising than any other big one in the world”. Prime Minister Modi would have wanted to convince Musk to make “significant investments” in his country. The Tesla boss also intends to do this, “we’re just trying to find the right timing for it,” Musk told reporters.

What exactly such an investment will look like is not yet known. However, as the Reuters news agency reported, citing a source, Tesla plans to build a manufacturing base in India.

Musk is full of praise for Modi

In general, the jack of all trades made positive comments about Modi. He is “a fan,” said the Tesla boss, pointing out that the Prime Minister “really cares about India”: “He wants to do what’s right for India. He wants to be open, he wants to support new companies. And at the same time he wants to make sure this is also to India’s advantage, which of course is his job.”

The way to a sustainable energy future

Asked about concrete plans for the future in India, Musk pointed to the significant potential that the country has in terms of creating a sustainable energy future. Here, the sustainable generation of energy by primarily wind and solar is of the utmost importance, with India being particularly suitable for solar energy production.

“The amount of land you need to produce enough electricity to power all of India is very small. I would guess that’s only about 1 or 2 percent of the land area. So that’s very doable. And then you have to do that with stationary Battery packs are combined because the sun doesn’t shine at night. And then you need electric vehicles. And then you have the sustainable energy future. And what’s certainly interesting for people is that that’s also the cheaper option. That could be the one might surprise people.”

Starlink goes India

The Tesla CEO also revealed that he would also be excited to bring his space company SpaceX’s Internet provider Starlink to India. “This could be incredibly helpful for remote or rural villages where there may be no internet access at all, or where internet is very expensive and slow.”

But not only the Internet subsidiary Starlink, but also SpaceX itself could gain a foothold in India. The spokesman for the Indian Ministry of Foreign Affairs tweeted after Modi and Musk’s meeting that the head of state would invite the SpaceX founder to “explore opportunities for investments in electric mobility and the fast-growing commercial space sector in India”. In 2020, India had paved the way for private space exploration expeditions to get involved in this fledgling but lucrative market. Here, too, nothing concrete is known about Starlink or SpaceX.

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