India's 'Suzuki moment' with Tesla? ‘Musk really admires what Modi has done’
Hindustan TimesGlobal electric vehicle giant Telsa is currently in advanced talks to make a significant foray into India. The company is contemplating a staggering investment of nearly $30 billion over the next five years, according to people closely involved with the company’s official business plans, signalling a potential game-changer for the country's burgeoning EV landscape. India's Prime Minister Narendra Modi shakes hand with Tesla chief executive Elon Musk during their meeting in New York City, New York, U.S., June 20, 2023. A person close to the company and involved in discussions on the project said this could well be “Suzuki moment” for India’s EV industry and and the “Apple plus moment” for India’s manufacturing aspirations. The spillover from this to other industries is enormous.” Tesla's interest in India is not just a strategic diversification beyond China but also a reflection of Elon Musk's admiration for India and Prime Minister Narendra Modi.