WATCH:PM Modi meets Musk, discusses EV and Solar manufacturing

Musk’s statement follows a meeting with Indian Prime Minister Narendra Modi during his visit to the United States

In an eagerly anticipated announcement, Tesla CEO Elon Musk revealed that the electric carmaker is actively seeking to invest in India as soon as possible. Musk’s statement came after a meeting with Indian Prime Minister Narendra Modi during his visit to the United States.

Sources with Reuters had previously hinted at Musk’s plans to establish a manufacturing base in India, and the Tesla chief confirmed his confidence in the company’s future in the country. Musk expressed gratitude to Prime Minister Modi for his support and expressed hope for an impending announcement.

Musk’s admiration for Modi was evident as he referred to him as a “fan” and mentioned Modi’s previous visit to a Tesla factory in California. According to Musk, India holds enormous potential as a large country with a promising sustainable energy future, including solar power, stationary battery packs, and electric vehicles. Furthermore, he shared his aspirations to bring the Starlink satellite internet service to India. Tesla executives had recently visited India, engaging in discussions with government officials and ministers about establishing manufacturing facilities for cars and batteries.

Reducing reliance on China has become a crucial concern for U.S. companies amid increasing tensions between Washington and Beijing. Tesla had temporarily postponed its plans to enter the Indian market last year due to high import tax structures. However, with the potential for a new factory location announcement by the end of this year, India has emerged as an appealing prospect for Tesla.

It is worth noting that Musk’s meeting with Modi occurred shortly after Twitter co-founder Jack Dorsey accused India of threatening to shut down the platform for non-compliance with content takedown orders during a protest in 2020-2021. However, Musk refrained from commenting on this incident, which caused significant controversy in India’s political landscape.