Thursday, July 25, 2024

Elon Musk congratulates Narendra Modi on Lok Sabha election win: ‘Looking forward to…’

Tech billionaire Elon Musk has congratulated caretaker Indian Prime Minister Narendra Modi for his party and alliance winning the 2024 Lok Sabha Elections in India,

“Congratulations Narendra Modi on your victory in the world’s largest democratic elections!” Musk, the chief of Tesla and SpaceX, and owner of social media site X (formerly known as Twitter) wrote.

He added that he looks forward to doing “exciting work” in the country, stating: “Looking forward to my companies doing exciting work in India.”

Track | Lok Sabha Election Results 2024 LIVE Updates here

Responding to Musk, Modi posted: “Appreciate your greetings Elon Musk. The talented Indian youth, our demography, predictable policies and stable democratic polity will continue to provide the business environment for all our partners.”

Also Read | Elon Musk puts off India visit to ‘later’, Internet says, ‘No rush! We’ll hold off on chai-samosa plans’

Musk Delays India Visit

Earlier in April this year, Musk had delayed his much anticipated visit to India due to “very heavy Tesla obligations”. In an April 20 post on X, the billionaire wrote: “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year.”

At the time it was speculated that Musk was likely to announce nearly 3 billion worth of investment in the Indian market, primarily earmarked for the establishment of a new Tesla manufacturing facility in the country.

Also Read | ‘Biggest loser’: US entrepreneur slams Elon Musk’s choice of China over India for Tesla manufacturing unit

The next week however, Musk was in China on April 28, Reuters reported. Later in the day, he also posted a photo with Chinese Premier Li Qiang, writing: “We have known each other now for many years, since early Shanghai days.”

During his tour, Musk was expected to discuss the rollout of Full Self-Driving software and permission to transfer data overseas. The US electric vehicle maker rolled out Full Self-Driving, or FSD, the most autonomous version of its Autopilot software, four years ago.

Also Read | Elon Musk goes to China & Indonesia, eyes Lanka trip after cancelling India visit. Why Tesla CEO’s itinerary matters

Then, in May, Musk visited Indonesia to launch the Starlink satellite internet service in the archipelago nation. He was also seen discussing opportunities for Starlink services with Sri Lanka’s President Ranil Wickremesinghe at the 10th World Water Forum in Bali.

Amid its falling profit margins, Tesla is attempting to utilise its existing factories to build new and more affordable vehicles as early as late this year, as per a Reuters report. It added that the development could lead to further delays in investments in new factories in Mexico and India.

 

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Published: 08 Jun 2024, 07:59 AM IST

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