Serum Institute of India (SII) CEO Adar Poonawalla invited Elon Musk to invest in India to make Tesla electric cars and said it would be his best investment till date. Elon Musk has signed a $44 billion deal to acquire Twitter. He had earlier demanded reduction in import duty from India for the sale of Tesla electric cars, but the government is emphasizing on local manufacturing.
Poonawalla tweeted Musk on Twitter, “If your deal to buy Twitter doesn’t go through, think about investing some of that money in India to build high quality and mass scale Tesla cars.” Consider.”
He further wrote, “I assure you that this will be your best investment.” Last month, Union Road Transport Minister Nitin Gadkari had said that if Tesla is ready to make electric cars in India, then there is no problem in it. But the company should not import cars from China.
Musk had said in August last year that Tesla could set up a factory in India provided it succeeds through imported vehicles into the country. He had said that Tesla wants to launch its vehicles in India but the import duty here is the highest compared to any other big country. Cars wholly imported into the country attract 100% import duty including cost, insurance and freight.