Adar Poonawalla | Tesla: Adar Poonawalla to Elon Musk: Invest in India to make Tesla cars

Adar Poonawalla, CEO of Serum Institute, took to Twitter on Sunday to urge Elon Musk to invest in India to mass-produce Tesla cars, saying it was the “best investment” he could ever make.

Musk is CEO of US-based automotive and energy company Tesla Inc. and runs two of its other companies, SpaceX and The Boring Company. Musk, the richest person in the world, recently inked a deal to buy Twitter for $44 billion.

Taking to Twitter, Poonawalla suggested that if the Twitter deal falls through, Musk should consider investing that capital in India for high-quality, mass-production @Tesla cars.

@elonmusk Just in case you don’t end up buying
@twitterconsider investing some of this capital in INDIA to produce high volume, high quality products
@Tesla Cars. I assure you this will be the best investment you will ever make,” Poonawalla tweeted.

Musk has secured around $7.1 billion in new funding commitments, including from billionaire Larry Ellison, a Saudi prince, and Sequoia Capital, to fund his proposed $44 billion acquisition of Twitter Inc .

The equity commitments come from 19 investors as billionaire Tesla Inc. raises capital to fund one of the tech industry’s biggest acquisitions. Musk originally said he planned to partially fund the deal with a $12.5 billion loan against his shares in Tesla, the electric vehicle company he runs.

CNBC reported that Musk plans to serve as Twitter’s chief executive officer, at least temporarily.

Last month, Union Minister for Roads and Motorways Nitin Gadkari had said that if Tesla was willing to manufacture its electric vehicles in India, there was “no problem” but the company would not be allowed to import cars from China.

Musk said in August last year that American electric vehicle maker Tesla may set up a manufacturing facility in India if it sees success with imported vehicles in the country for the first time.

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

Currently, India charges 100% import duty on fully imported cars with a CIF value (cost, insurance and freight) of more than $40,000 and 60% on those costing less.


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