Tesla Inc CEO Elon Musk hints entry into Indian Markets by 2021
Tesla Inc Chief Executive Elon Musk hinted via a Twitter reply on Friday that the U.S. electric carmaker will make a foray into India in 2021.
Tesla Inc Chief Executive Elon Musk indicated via a Twitter reply on Friday that the U.S. electric carmaker will make a foray into India in 2021.
“Next year for sure,” Musk replied to a post on Twitter with a photograph of a T-shirt with the message: “India wants Tesla”.
“Thanks for waiting,” Musk added.
Tesla’s entry into India could come at a time when Prime Minister Narendra Modi is becoming increasingly focused on promoting the use and manufacture of electric vehicles.
India’s auto sector, already reeling from a slowdown in demand last year, has been further hit by the novel Coronavirus pandemic and carmakers are seeking government assistance to further initiate sales.
Back in 2019, Musk commented about coming to India, in response to someone on Twitter who asked: “What about India sir?”.
“Would love to be there this year. If not, definitely next!” he had said then.
A study conducted a few months ago at Purdue University about the effect of lockdown on auto-industry in India had suggested that there might have been a production loss of Rs 1.23 lakh crores in the period of shut down. The model also suggested that the decline in exports in the motor vehicle sector would have been around Rs 51,000 crores.