Tesla India Gigafactory - Soon?
$Tesla(TSLA.US$ Elon Musk has announced plans to invest in India and bring Tesla to the country as quickly as possible. Following a positive conversation with India's Prime Minister, Narendra Modi, Musk hopes to confirm plans soon. Before setting up a manufacturing plant, Tesla wants the permission to sell and service imported cars in India.
In addition to Tesla's expansion, SpaceX has also been in talks with India's telecom ministry to introduce its satellite internet service, Starlink. Despite Elon's intentions to enter the Indian market for several years, Tesla has been waiting for significant incentives from the Indian government.
Modi invited Elon to explore investment opportunities in India's rapidly expanding electric mobility and commercial space sector. In response, the Indian government is considering allowing US companies to collaborate with Indian firms for investments in the space sector. India is pushing for private space companies to increase their global market share significantly in the next decade.
Starlink, another venture of Elon, is also keen to operate in India, but no specific timeline has been given. The business had registered in India in late 2021, but faced regulatory hurdles, which led to a temporary halt of operations. Elon's move to expand in India follows recent discussions on India's influence over social media content, as revealed by Twitter's co-founder Jack Dorsey.
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73209536 : Musk has been preparing for the Indian market for a long time.
Mr Bogus : Going to Indian will get a lot of fine and lose a lot of money. Indian giving out profit is 1 for u and 2 for me. 2 for u and 7 for me.
Ziet InvestsOP 73209536: yes!
Ziet InvestsOP Mr Bogus: it’s a tough market for sure, but it’s also a very lucrative market if done right…IF done right
104132545 Mr Bogus: True.
104132545 : Any legal requirements for mandatory collaboration with local Indian companies is certainly not a thing for Tesla and other foreign companies. Decade(s) ago the Japanese MNC “rush” to India hoping for cheaper labour, new market other than China, Vietnam etc has for quite some time very silent about their India ventures. Being a fan of Modi (a single person ) is very different from when dealing with the masses.
Mr Bogus 104132545: Yes. Many big company hv ever survive in India for long term and earn money. Mostly is lose money and lawsuit and pay fine and left. If India is great it could hv match China closely already. All they one is invite victims and suck their blood.
Silverbat : India is another 5-6M EV market being tapped by Tesla's unique model !
Mr Bogus : Even Japan got con into build train for them and quit in the end. U think India wouldn’t wanna con the richer Mask guy? Indi is an after fxxk wouldn’t pay money but will threaten u or call police type. Better be careful.
Praks Mr Bogus: Are you still talking about the 5th largest economy of the world gunning for being the 3rd in about 1-2 years time?
Tesla needs great talent and sharp minds to implement things at this juncture and I can’t think of anyone else than India for it….so I’m keeping my stocks because this is a great decision!
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