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CEO Adar Poonawalla Told Elon Musk to Land Tesla Car in India Will be the Best Investment

CEO Adar Poonawalla Told Elon Musk to Land Tesla Car in India Will be the Best Investment

Sanjay Goenka 811 09 May 2022

Serum Institute of India (SII) CEO Adar Poonawalla on Sunday said Elon Musk to invest in India in the Electric Car sector. He said to manufacture Tesla electric cars in India will be the best investment he would ever make.

Highlights 

  • Elon Musk has shown his interest in India in landing his Tesla Car

  • Earlier India imposes a 100 percent import duty on fully imported cars

  • He was urged by the Indian Government for manufacturing Tesla Cars in India

Also Read: 'Great work by Tesla team worldwide' Tesla's CEO Elon Musk's tweet for Q4 Sale 2021

Adar Poonawalla, the CEO of Serum Institute of India said in his tweet to Elon Musk to invest in India to manufacture Tesla electric cars, Adar also said, it would be the best investment by Tesla ever made.

Elon Musk, CEO of Tesla earlier has made a successful $41 billion (Rs. 3,40,400 crore) bidding acquisition for Twitter. Musk had earlier asked the Indian Government to reduce import tax to sell Tesla electric cars but the government has insisted on local manufacturing.

Adar tagged the billionaire investor Elon Musk in his tweet posted on Sunday “…Just in case you don’t end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars.” He also added, “I assure you this will be the best investment you’ll ever make.”

In the previous month, Union Road Transport and Highways Minister Nitin Gadkari said for the requested Tesla to land its electric cars in India, Minister said if Tesla was ready to manufacture its electric vehicles in India then there was ‘no problem’ but the Tesla Company must not import cars from China.

Last year in August, Tesla’s CEO said the company may set up a manufacturing unit in India on the condition that it gets success with imported vehicles in the country.

Musk said he wanted to launch its vehicles in India “but import duties are the highest in the world by far of any large country.” India earlier said to impose 100 percent import duty on the cars.

Also Read: Elon Musk's Forced Settlement with US Securities Regulator Over Tesla Tweets

technology technologycarelectric vehicletransportation
Sanjay Goenka
Sanjay Goenka

Student

Economics can be broken down into microeconomics, which looks at individual decisions, and macroeconomics, which is concerned with the economy as a whole. Both types of economics utilize historical trends and current conditions to inform business decision-making and make predictions about how markets might behave in the future. Students who choose to study economics not only gain the skills needed to understand complex markets but come away with strong analytical and problem-solving skills.

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