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Tag: Elon Musk In India

  • Elon Musk Set To Meet PM Modi In New Delhi: Know Why Tesla Is Keen On India Entry? | Mobility News

    New Delhi: Tesla and SpaceX CEO Elon Musk is coming to meet Prime Minister Narendra Modi in India. Elon Musk posted on X (formerly Twitter) that he is looking forward to meeting PM Modi in India. According to reports, Elon Musk will be in India on April 21 and 22. The billionaire will be in the country for 48 hours. Musk will meet Prime Minister Narendra Modi and other government officials as well as industry representatives.

    Why Tesla-Led Elon Musk Is Keen On India Entry? 

    Elon Musk’s interest in entering the Indian market with Tesla is fueled by multiple factors. From India’s growing interest in electric vehicles to its vast market potential, Musk sees a golden opportunity. But what exactly draws him to this South Asian giant?

    As we all know, interest in electric cars is rapidly increasing in India, but the market is still small. Last year, only 6 electric cars were sold out of 100, while in China, the figure is 22. In India, 80,000 cars were sold last year, while Tesla alone sells 1.8 Lakhs cars.

    The potential is massive in India. This promising opportunity is a significant factor driving Elon Musk’s decision to expand Tesla’s presence in the Indian market. (Also Read: Mahindra XUV 3XO: How Will This SUV Differ From XUV300?)

    Earlier, Tesla was not interested in exploring the Indian market due to heavy duties on electric cars. India has been imposing 100% import taxes on electric cars, meaning a Tesla priced at Rs 29 Lakhs rupees would cost around 60 Lakhs rupees in India.

    Now, the government has changed its policy. Any company investing 500 million dollars and setting up a factory as well in India can sell cars by paying a 15% import tax. There is hope that Tesla’s cars will be available for around 35 Lakhs rupees.

    To recall, Elon Musk and PM Modi met in New York in June. Tesla asked India many times to reduce import taxes on electric cars.

    Reportedly, Tesla might invest $3 billion to build a factory for making affordable electric cars in India. These cars, possibly the Model 2, could cost around Rs 25 lakh. Elon Musk may also reveal intentions to introduce Starlink, offering satellite internet in India. However, the regulatory approvals for Starlink are in the final stages, and the company is likely to receive a license soon. (Also Read: 2024 Hyundai Creta Surpasses 1 Lakh Bookings, 71% Bought Sunroof Models)

    Tesla currently has two vehicle manufacturing facilities outside the US — near Berlin (Germany) and in Shanghai (China). Tesla’s entry into India gives the country’s Make-in-India project a big boost after it got another mega brand Apple to manufacture iPhones in India.

  • Will Elon Musk Announce Affordable Starlink Internet Service During India Visit? ,

    New Delhi: Starlink, an affordable satellite-based internet service offered by Elon Musk-run aerospace company SpaceX, has transformed the way people access the web in remote and inaccessible parts of the world. Will Musk announce its arrival in India when he visits the country later this month?

    After several failed attempts, Starlink is geared up to launch satellite broadband services in India, which has close to 92 crore broadband subscribers, according to the latest data by the Telecom Regulatory Authority of India (TRAI).

    Bharti Airtel currently leads the broadband market, followed by Vodafone Idea and BSNL. Starlink is set to soon get a license after clearing regulatory hurdles. The government in December last year passed The Telecommunications Bill 2023 which allows spectrum allocation for satellite-based services without the need to participate in auctions. (Also Read: Apple Sends Notifications To Users In 92 Nations, Including India, About ‘Mercenary Spyware’)

    The move favors companies such as OneWeb, Musk’s Starlink and Amazon’s Kuiper. According to experts, India’s digital economy is experiencing a period of significant growth momentum.

    “The potential arrival of Starlink, coinciding with Musk’s visit, could serve as a further catalyst for India’s thriving digital economy,” Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR, told IANS.

    Increased digital access would empower citizens in ‘aspirational India’, fostering a wave of entrepreneurship, enhanced access to education and healthcare, and increased participation in the digital workforce.

    All Starlink subscription plans include unlimited high-speed data on land with no long-term contracts or commitments. Starlink users can get download speeds up to 220 Mbps, with most of them receiving speeds of over 100 Mbps. (Also Read: Elon Musk Says X Received Inquiry From US House of Representatives On Actions In Brazil)

    The cost of Starlink services in India is not known as of now. In the US, the basic Starlink Wi-Fi for homes in rural areas is $120 per month for unlimited internet sans contract. There are other data plans as well.