India welcomes Tesla

Tesla is said to be in talks to enter the Indian market and may invest nearly 30 billion USD (732,000 billion VND), both directly and indirectly, over the next five years, The Hindustan Times reported. This is the result of months of negotiations between Prime Minister Narendra Modi’s administration and Tesla representatives.

Specifically, Mr. Modi had a meeting with Mr. Musk in New York City (USA) in June 2023, a month after the Indian government was said to have given the green light for Tesla to enter the country’s market. Indian Commerce Minister Piyush Goyal also visited the Tesla factory in California (USA) in November 2023.

Mr. Elon Musk attended the Viva Technology conference exclusively for startups in Paris, France, in June 2023.

REUTERS

New Delhi’s efforts are part of its “Made in India” campaign to boost the domestic manufacturing sector. In the context of population explosion, creating jobs is the major challenge India is facing. Therefore, a growing electric vehicle industry can boost employment while reducing pollution and reducing dependence on imported crude oil.

Tesla’s plans in India have been a hot topic since the company established its local unit in January 2021. The South Asian country overtook Japan to become the world’s third-largest auto market in new vehicle sales in 2022 and defended its position in 2023, according to Nikkei Asia.

Tesla has not officially commented on specific plans in India. Project backers say the investment will serve several of New Delhi’s goals of domestic manufacturing, fighting the climate crisis, integrating into new global supply chains and strengthening strategic partnerships. India – US strategy.

Some Indian media reported that Tesla may make a final decision as early as this year, including building a factory with a production capacity of up to 500,000 vehicles per year in the South Asian country.

Southeast Asia also joined in

`

Many other countries in Asia are also rolling out the red carpet for Tesla. Indonesian President Joko Widodo in May 2022 went to Texas (USA) to persuade Mr. Musk to build an electric vehicle factory in this Southeast Asian country.

Tesla’s Model Y electric car line

REUTERS

Indonesia is famous for its large reserves of nickel and materials used in electric vehicle batteries. According to Nikkei Asia, Musk has previously expressed interest in working closely with Indonesia, acknowledging the country’s significant market potential.

Malaysian Prime Minister Anwar Ibrahim also had an online discussion about potential investments and other topics with Mr. Musk in July 2023.

Meanwhile, Thai Prime Minister Srettha Thavisin met Mr. Musk in September 2023. Mr. Thavisin said his country could receive a total investment of at least 5 billion USD from Tesla and other American corporations. This sparked speculation that the two sides had made some progress after the meeting. Tesla CEO arrived in Thailand at the end of November 2023.

According to Reuters, the wave of electric vehicle use in Thailand in recent years is also exploding with high demand. This is also one of the oldest markets in Southeast Asia.