On Friday, Tesla Inc. CEO Elon Musk and Indian Prime Minister Narendra Modi held talks about potential collaboration in technology and innovation. The meeting signaled a strong push for deeper ties in these areas.
What Happened
In a social media post, Prime Minister Modi shared that he and Musk had discussed “various issues,” including the topics they touched upon during their earlier meeting in Washington, D.C., this year. Modi added that the discussion revolved around the immense potential for collaboration in tech and innovation.
India Commits to Advancing Tech and Innovation
Modi emphasized that India remains committed to advancing its technology and innovation sectors. This commitment is expected to drive growth and development in the country.
Tesla’s Expansion into India
The meeting between Musk and Modi comes amid growing anticipation for Tesla’s expansion into the Indian market. A recent test run of a Tesla Model Y in Mumbai has further fueled this anticipation. Tesla has also been hiring for roles in India, indicating that the company is serious about establishing a presence in the country.
SpaceX Partners with Indian Telecom Providers
Last month, Musk’s SpaceX partnered with India’s Jio Platforms to expand Starlink satellite internet services. SpaceX has also signed a similar agreement with Bharti Airtel, Jio’s main competitor.
Tesla’s Stock Performance
Tesla shares dipped 0.070% on Thursday and slipped an additional 0.20% in after-hours trading, settling at $240.89. While the stock has seen some recent gains, it’s still down 36.36% year-to-date.
Growth Score
The EV leader currently boasts a solid growth score of 67.60%, based on industry rankings. This indicates that Tesla is well-positioned for future growth and development.
Future Prospects
The collaboration between Musk and Modi is expected to drive growth and innovation in India’s tech sector. As Tesla expands into the Indian market, the company is likely to face both opportunities and challenges. However, with its strong growth score and commitment to innovation, Tesla is well-positioned for success.