Elon Musk’s India visit — what to expect

Earlier this month, Tech Mogul Elon Musk tweeted that he will be coming to India and meet Prime Minister Narendra Modi. As the day gets closer to Musk’s visit, a few details about the agenda have emerged, which show that focus would largely be around the electric vehicle (EV) and space sector. Following are details known so far:

Musk’s investment in India

Musk is expected to make investments to the tune of up to $3 billion in India, as reported by Reuters. Most of this investment is expected to be spent towards building a new factory in the electric vehicle space. It is unlikely that Mush will share more details such as the timeline for the factory to be built or its location.

Media report further said that Tesla is already looking for showrooms in Delhi and Mumbai. The cars being produced at Tesla’s Berlin factory are expected to be imported to India later this year. 

Notably, Indian government last month cut import taxes on EVs for global players that have committed to invest $500 million and start local production in three years. 

Meeting with Spacetech startups

Musk is meeting select co-founders of Indian space tech companies by early next week. As per several media reports, companies such as Dhruva Aerospace, Skyroot, Galaxeye, among others have already received invites. These startups will be showcasing the work they have done so far. Industry experts quoted in media have said that it is unlikely for any business deal to be struck in this space, as Musk, who also owns Starlink, is mainly about Tesla. Starlink is also trying to break into the India market. It was earlier being speculated that Starlink will get its approval by the end of January 2024. 

To be sure, last month a group of startup executives along with the officials of Indian Space Research Organisation (ISRO) visited SpaceX’s California office as part of the International Visitor Leadership Programme under US Department of State.

Semiconductor agreement with Tata

Earlier this week, Economic Times reported that Musk-led Tesla has signed deal with Tata Group for chip supply for its worldwide operations. The report also said that Tesla is interested in building a supply chain in India. Tesla or Musk haven’t commented on the same yet. “Executed discreetly a few months ago, this agreement is significant as it positions Tata Electronics as a reliable supplier for top-tier global clients,” the reported added.