Serum Institute of India (SII) Chief Executive Officer (CEO) Adar Poonawalla on Sunday gave a special advice to Elon Musk to invest in India. Poonawalla invited Tesla to invest in India for manufacturing of electric cars and said that this would be his biggest investment till date.
Musk has signed a $44 billion deal to acquire Twitter. He had earlier also demanded reduction of 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 work out, consider investing some of that capital in India for high quality and mass manufacturing of Tesla cars.”
He further wrote,”I can assure you that this will be your biggest investment ever.”
Last month, Union Road Transport Minister Nitin Gadkari had said that there is no problem if Tesla is ready to make electric cars in India, but the company should not import cars from China.
Musk had said in August last year that Tesla could set up a manufacturing unit in India. Provided it gets success through imported vehicles in 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.
Fully imported cars in the country attract 100% import duty including cost, insurance and freight.
Hey @elonmusk 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. I assure you this will be the best investment you’ll ever make.
— Adar Poonawalla (@adarpoonawalla) May 8, 2022