Best investment you’ll ever make: Adar Poonawalla woos Elon Musk to invest in making Tesla cars in India

Image Source : PTI

Tesla electric cars.

Highlights

  • SII CEO Adar Poonawalla has advised Elon Musk to invest in India
  • Poonawalla on Twitter suggested Musk to set up Tesla manufacturing plant in India
  • The SII CEO told Musk it will be best investment you will ever make

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

Musk, who has made a successful USD 44 billion acquisition bid for Twitter, had in the past asked India to reduce import duties to sell Tesla electric cars but the government has insisted on local manufacturing.

In a post on Twitter, tagging Musk, Poonawalla said, “… 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 further said, “I assure you this will be the best investment you’ll ever make.”

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

In August last year, Musk had said that American electric vehicle maker Tesla may set up manufacturing unit in India if it first succeeds with imported vehicles in the country.

He had said Tesla wanted to launch its vehicles in India “but import duties are the highest in the world by far of any large country!”

Currently, India imposes 100 per cent import duty on fully imported cars with CIF (Cost, Insurance and Freight) value more than USD 40,000 and 60 per cent on those costing less than the amount.

ALSO READIs Elon Musk replacing Twitter CEO Parag Agrawal? Here’s what we know so far

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

Latest Business News

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More