Adar Poonawalla suggests Elon Musk to invest some capital in India
On Sunday, Adar Poonawalla, CEO of The Serum Institute of India, offered some investment advice to Elon Musk, the world’s richest person.
Musk is currently in talks with investors who will contribute to the acquisition of Twitter. Poonawalla wrote on Twitter on Sunday: “Hey Elon Musk 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.”
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
Musk stated in August of last year that the American electric vehicle manufacturer Tesla may establish a manufacturing unit in India if it first succeeds with imported vehicles in the country.
He stated that Tesla wanted to launch vehicles in India, “but import duties are the highest in the world by far of any large country!” Currently, India imposes a 100% import duty on fully imported cars costing more than $40,000 CIF (Cost, Insurance, and Freight) and a 60% duty on those costing less.