Elon Musk says Tesla will be in India ‘as soon as humanly possible’
Indian prime minister pushing Musk for investment
Tesla traders should be licking their chops: Keith Fitz-Gerald
Panelists discuss whether markets have recovered from the banking crisis and recent Tesla price fluctuations on 'The Claman Countdown.'
Tesla CEO Elon Musk told India’s Prime Minister Narendra Modi this week that the EV maker will expand into the country, which offers U.S. corporations a massive growth opportunity.
"I am confident that Tesla will be in India and will do so as soon as humanly possible" Musk said according to Reuters.
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Musk, who will make a trip to India next year, met with Modi in New York on Tuesday. He said Modi has been pushing the automaker for a "significant" investment in the country.
Indian Prime Minister Narendra Modi meets with Elon Musk in New York on June 20, 2023. (Indian Press Information Bureau/Handout/Anadolu Agency via Getty Images)
Musk said India has tremendous potential for sustainable energy production, beginning with solar and wind energy generation.
The two celebrated their meeting in a Tweet back-and-forth.
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Over the last month, Tesla shares have skyrocketed roughly 50% as the company mulls a new location in Europe, and Hyundai considers following Ford and GM in adopting the car manufacturer’s North American charging standard for EVs.
Tesla
.| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 320.72 | +9.54 | +3.07% |
India has been a focus for U.S. company expansion since Apple began manufacturing the iPhone in the country in 2017.
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In April, the technology giant opened its first Apple store locations in Mumbai and Delhi, along with new environmental initiatives and a key milestone in the rapidly growing community of Indian developers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 225.00 | -3.22 | -1.41% |
CEO Tim Cook was on hand for the debuts, celebrating alongside employees.
CEO Tim Cook and Deirdre O'Brien, senior vice president of retail, wave during the grand opening of Apple's first flagship store in Mumbai, India, April 18, 2023. (Rafiq Maqbool / AP Newsroom)
Apple shares have gained 41% this year, outpacing the Nasdaq Composite's 29% jump.
Apple
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Reuters contributed to the report.