Hyderabad: It is happening on Twitter again. Multi-billion business deals and suggestions are given to foreign investors to consider setting up their business in India.
On Sunday, Serum Institute of India (SII) CEO Adar Poonawalla joined the list as he wooed Elon Musk to invest in India to manufacture Tesla electric cars, saying it will be the best investment he would have ever made. Adar's was suggestive that Musk should not go ahead with the Twitter deal and instead should invest in India.
Musk, who has made a successful USD 44 billion acquisition bid for Twitter, had in the past asked India to reduce import duties to sell Tesla electric cars but the government has insisted on local manufacturing. In a post on Twitter, tagging Musk, Poonawalla said, “… just in case you don’t end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars.” He further said, “I assure you this will be the best investment you’ll ever make.”
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Hey @elonmusk just in case you don't end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars. I assure you this will be the best investment you'll ever make.
— Adar Poonawalla (@adarpoonawalla) May 8, 2022 " class="align-text-top noRightClick twitterSection" data="
">Hey @elonmusk just in case you don't end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars. I assure you this will be the best investment you'll ever make.
— Adar Poonawalla (@adarpoonawalla) May 8, 2022Hey @elonmusk just in case you don't end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars. I assure you this will be the best investment you'll ever make.
— Adar Poonawalla (@adarpoonawalla) May 8, 2022
While Musk is yet to reply to Adar, and may not anytime soon, Akar Patel, the former Amnesty India chairman, who was recently caught in the eye of the storm, questioned Adar's suggestion. "best investment? base tesla (model 3 in us without duty and transport) is $46990 or ₹35 lakh. number of cars over ₹35 lakh sold in india is ~35,000. in China it’s more than 30 lakh. indian sales are a rounding error. why would tesla invest in place ford and gm fled?," Akar reacted.
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best investment?
— Aakar Patel (@Aakar__Patel) May 8, 2022 " class="align-text-top noRightClick twitterSection" data="
base tesla (model 3 in us without duty and transport) is $46990 or ₹35 lakh.
number of cars over ₹35 lakh sold in india is ~35,000. in China it’s more than 30 lakh. indian sales are a rounding error. why would tesla invest in place ford and gm fled?
">best investment?
— Aakar Patel (@Aakar__Patel) May 8, 2022
base tesla (model 3 in us without duty and transport) is $46990 or ₹35 lakh.
number of cars over ₹35 lakh sold in india is ~35,000. in China it’s more than 30 lakh. indian sales are a rounding error. why would tesla invest in place ford and gm fled?best investment?
— Aakar Patel (@Aakar__Patel) May 8, 2022
base tesla (model 3 in us without duty and transport) is $46990 or ₹35 lakh.
number of cars over ₹35 lakh sold in india is ~35,000. in China it’s more than 30 lakh. indian sales are a rounding error. why would tesla invest in place ford and gm fled?
Last month, Union Road Transport and Highways Minister Nitin Gadkari had said if Tesla was ready to manufacture its electric vehicles in India then there was ‘no problem’ but the company must not import cars from China. In August last year, Musk had said that American electric vehicle maker Tesla may set up manufacturing unit in India if it first succeeds with imported vehicles in the country.
He had said Tesla wanted to launch its vehicles in India “but import duties are the highest in the world by far of any large country!” Currently, India imposes 100 per cent import duty on fully imported cars with CIF (Cost, Insurance and Freight) value more than USD 40,000 and 60 per cent on those costing less than the amount.
Also read: Musk invited to UK Parliament to discuss $44 bn Twitter buyout
