Elon Musk Has Meeting With India Prime Minister - Giga India All But Certain

Elon Musk Meets With India Prime Minister

Elon Musk met with India Prime Minister Narendra Modi in New York yesterday to talk about a variety of things, including the possibility of Tesla building a Giga factory in India.

Narendra Modi visiting New York in the United States makes this his first official state visit to the United States. This means he will get to be a guest of honor at a formal state dinner with U.S. President Joe Biden.

India doing this is a strong signal that India is an ally to the United States, and also that India very much wants Tesla to build a Giga factory there - and possibly multiple Giga factories.

This meeting with the India Prime Minister is a solid signal that Giga India is going to happen, and Elon Musk has even said as much. He said that it is very likely Tesla is going to build a Giga factory in India at some point.

It's even possible that we will get an announcement later this year announcing a Giga factory in India.

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Giga India All But Certain

I think a Giga factory in India is all but certain. It's a complete no-brainer, and I think Elon Musk understands this. Not only that, the middle class in India is growing, as is their income earning potential.

What this means is that as the middle class in India approaches as $60,000 per year salary, the ability to afford a $20,000 or $25,000 vehicle begins to skyrocket. This means that the Tesla compact vehicle will likely be affordable in India by the time a Giga factory is built there and reaches volume production.

I expect at least a couple million compact vehicles to be built in India annually, and I won't be surprised if the eventually sub-compact vehicle gets built in India as well, and it sells 2 to 3 times that number.

Tesla's end goal is autonomy and India would be one of the largest autonomous markets with 1.4 billion people living in the country.

I also think Tesla will build a Megafactory with Megapacks and solar for India as well. It really is the early innings for Tesla still - even with their current 829 billion market cap valuation. Tesla is just getting started.

What do you think about this meeting between Elon Musk and the Prime Minister of India? Is Tesla going to build a factory in India?

In Related News: Elon Musk Gives Nod to Model 3 - Project Highland

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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.

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