Is Mukesh Ambani a new rival to Elon Musk in India?

It’s a fight of the billionaires towards who will hold a major stake in the country for clean energy in India. After Elon Musk entered India to get a stake in the Indian electric cars market people were excited to have Elon musk enter the Indian market.

Now it’s India’s richest man Mukesh Ambani’s turn who has recently bought an American-based transportation company called Skytran. Skytran is a transportation company developing pod taxis, that the conglomerate initially invested in three years ago, through its subsidiary Reliance Strategic Business Ventures.

Reliance started out by acquiring 12.7% of skyTran in October 2018. Next year, in November 2019, ir raised its stake to 17.37%,. By April 2020, Reliance put in the third tranche of investment to bring its stake up to 26.3%.

Now as this new electric transportation market is evolving so everyone wants to take a bite of this new market and wants to be a leader in the same. After Elon Musk announced that he will be entering the Indian market a lot of Indian manufacturers geared up for a competition.

 

So we keep this question in the air who will win this market share and it up to our readers how they want to perceive it.