Adar Poonawalla persuades Elon Musk to invest in making Tesla cars in India, says best investment you’ll ever make

IndiaTV-English News
Image source: PTI

Tesla electric cars.


  • SII CEO Adar Poonawalla advised Elon Musk to invest in India
  • Poonawalla on Twitter suggested Musk set up Tesla factory in India
  • The CEO of SII told Musk it’s the best investment you’ll ever make

Serum Institute of India (SII) CEO Adar Poonawalla on Sunday provoked Elon Musk to invest in India to produce Tesla electric cars, saying it would be the best investment he would have ever made.

Musk, who made a successful $44 billion takeover bid on Twitter, had asked India in the past to cut tariffs on selling Tesla electric cars, but the government has pushed for local production.

In a post on Twitter, tagging Musk, Poonawalla said: “…just in case you don’t end up buying @Twitter, look at investing some of that capital in INDIA for high quality large scale production of @Tesla cars. .”

He went on to say, “I assure you this will be the best investment you will ever make.”

Last month, Union Road Transport and Highways Minister Nitin Gadkari had said that if Tesla was ready to manufacture its electric vehicles in India, there would be “no problem,” but the company will not be allowed to import cars from China.

In August last year, Musk had said that US electric vehicle maker Tesla could set up a production facility in India if it first succeeds with imported vehicles into the country.

He had said Tesla wanted to launch its vehicles in India “but the tariffs are by far the highest in the world of all the major countries!”

Currently, India levies 100 percent duty on fully imported cars with a CIF (Cost, Insurance and Freight) value over USD 40,000 and 60 percent on cars that cost less than the amount.

ALSO READWill Elon Musk Replace Twitter CEO Parag Agrawal? This is what we know so far

ALSO READ‘RBI rate hike only came as a surprise because…’: Nirmala Sitharaman

Latest business news

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,’script’,’’); fbq(‘init’, ‘529056027274737’); fbq(‘track’, ‘PageView’);