New Delhi: Errol Musk, father of Tesla and SpaceX CEO Elon Musk, on Monday said he has no doubt that there will be a Tesla manufacturing plant in India and Prime Minister Narendra Modi and his son will work something out that is beneficial to both.
Speaking to IANS in the national capital, Errol Musk, who is currently visiting India, said Prime Minister Modi has to look at the interests of India when it comes to bringing Tesla to the country.
“And Elon has to look at the interests of Tesla as a company. So, between them, they will work something out that is to the best advantage of Tesla as well as India. However, I’m saying this as a private individual because Tesla is a public company,” the 79-year-old South African businessman emphasised.
Errol Musk further stated that “I have no doubt that there will be a Tesla manufacturing plant in India”.
“There has to be (a Tesla plant in India). India is one of the most important places in the world,” he told IANS.
The India visit of Errol Musk, Global Advisor to homegrown Servotech Renewable Power System Ltd, underscores the growing interest in the country’s rapid strides towards sustainable development and its ambition to be a leader in the green and electric technology.
India has set ambitious targets for EV adoption. It aims to achieve 30 per cent EV penetration in the passenger vehicle segment, 80 per cent in the combined two-wheeler and three-wheeler segment, and 70 per cent in the commercial vehicle segment by 2030.
In April this year, Elon Musk and PM Modi discussed various issues, including an immense potential for collaboration in the areas of technology and innovation.
“It was an honour to speak with PM Modi. I am looking forward to visiting India later this year,” Musk posted on his X social media platform.
PM Modi held a discussion with Tesla CEO on a range of topics. “Spoke to Elon Musk and talked about various issues, including the topics we covered during our meeting in Washington DC earlier this year. We discussed the immense potential for collaboration in the areas of technology and innovation. India remains committed to advancing our partnerships with the US in these domains,” the Prime Minister said on X.
Meanwhile, Union Heavy Industries Minister H D Kumaraswamy said on Monday that Mercedes Benz, Skoda-Volkswagen (VW), Hyundai, and Kia have shown keen interest in manufacturing their electric vehicles (EVs) in India.
On Elon Musk-run Tesla, the Union Minister said: “We are not actually expecting (manufacturing) from them as they are only to start showrooms. They are currently not interested in manufacturing in India.”
IANS
Nifty Bank hits record high of 56,161.40 ahead of RBI MPC
Mumbai: The Nifty Bank index touched a record high of 56,161.40 on Tuesday ahead of the crucial RBI MPC meeting. The surge was driven by strong buying in select banks...
RBI may go for 50 bps jumbo rate cut to counter uncertainty: SBI report
New Delhi: A new SBI report on Monday projected a mega 50-basis point rate cut in June’s RBI MPC policy, saying that a large rate cut could reinvigorate a credit...
Tata Motors’ sales decline over 8.5 pc in May
Mumbai: Tata Motors on Sunday reported an 8.6 per cent year-on-year (YoY) drop in vehicle sales for May 2025 across domestic and international markets, continuing a trend of subdued performance...
Trump to double steel tariffs to 50 pc from next week
Washington: US President Donald Trump has said that he planned to double tariffs on foreign imports of steel to 50 percent starting next week, further casting a cloud on steelmakers...
Finance Ministry urges RBI to exclude small borrowers from new gold loan norms
New Delhi: The Finance Ministry said on Friday it has suggested that the Reserve Bank of India (RBI) should exclude small borrowers of up to Rs 2 lakh from the...
Global economic outlook worsens but India seen as growth driver: WEF report
Geneva: The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel uncertainty, but South Asia, led by India, is seen...
Income Tax Dept extends date for filing ITRs from July 31 to Sep 15
New Delhi: The Income Tax Department on Tuesday extended the due date to file income tax returns for FY 2024-25 (AY 2025-26) from July 31 to September 15. The Central...
India-made cars gain traction in Japanese market
New Delhi: Maruti Suzuki and Honda Cars India have clocked a robust increase in exports to the Japanese market, reflecting the improving quality and acceptance of India-made cars in developed...
Gold and silver prices continue to rise, yellow metal nears Rs 96,000 per 10 grams
New Delhi: The gold and silver prices continued to rise on Monday amid geopolitical uncertainties. The 24-carat gold worth 10 grams was trading close to Rs 96,000 and the price...
Reliance Industries sees Rs 40,800 crore drop in market cap, leads losses among top firms
Mumbai: Reliance Industries was the biggest loser among India’s top 10 most valued companies this week, as its market valuation dropped by Rs 40,800.4 crore. The fall came amid a...
India replaces Japan as world’s 4th largest economy, poised to overtake Germany for 3rd rank
New Delhi: India has surpassed Japan to become the world's fourth-largest economy and is now poised to displace Germany from the third rank in the next 2.5 to 3 years,...
Uber faces heat over ‘advance tip’ feature, govt steps in
New Delhi: Uber’s new 'Advance tip' feature has sparked a massive backlash on social media, with users accusing the ride-hailing company of forcing them to pay extra money just to...
