Musk’s Twitter transfer sparks hypothesis

32 Musk’s Twitter transfer sparks hypothesis

Tesla and SpaceX founder Elon Musk sparked a wave of hypothesis on Twitter after he started following Indian Prime Minister Narendra Modi on Monday. Some customers had been fast to imagine the transfer may portend the choice to open a Tesla manufacturing line in India or enter the Indian market.

With over 87.7 million followers, Modi can be some of the well-liked politicians on the community. Neither Musk, nor Modi have commented on the CEO’s resolution to observe the world chief.

Musk, who purchased Twitter in October 2022, is himself probably the most adopted individual on the social media community. The billionaire has nearly 134.4 million Twitter followers – a large portion of the social media’s 450-million-strong pool of lively customers. The businessman himself solely follows 193 accounts.

Final yr, New Delhi invited Tesla to India, the place the nation’s transport minister, Nitin Gadkari, instructed journalists in Might 2022 that the corporate might reap advantages if it began manufacturing electrical autos there.

“Come to India, begin manufacturing, India is a big market, they’ll export from India,” the minister mentioned at the moment. He additionally claimed that electrical vehicles in India would quickly value lower than petrol-fueled vehicles.

Musk responded later that month, saying that his firm wouldn’t “put a producing plant in any location the place we aren’t allowed first to promote and repair vehicles.”

Tesla has lengthy been in search of decrease Indian import taxes on electrical vehicles, urging New Delhi to scale back the tariff charges on high-end vehicles to 40% as a substitute — however the nation has refused to supply the carmaker the tax breaks, as a substitute encouraging it to fabricate autos domestically.

In June, Indian Heavy Industries Minister Mahendra Nath Pandey mentioned that his nation was not able to “compromise” on its insurance policies of self-reliance so Tesla must play by the principles if it needed to return to India.

“Tesla, Elon Musk are welcome to India however solely in response to the nation’s insurance policies,” Pandey mentioned at the moment. It’s unclear if something has modified since then.

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