K'taka invites Tesla to invest, says ready to provide necessary facilities

It is ideal destination for the company's expansion into India, and that the authorities here are ready to support the company and its ventures and provide the necessary facilities, said K'taka govt

The Karnataka government on Friday invited Tesla Inc, the world's largest electric car maker, to invest in the state, saying it is the ideal destination for the company's expansion into India, and that the authorities here are ready to support the company and its ventures and provide the necessary facilities. Tesla said earlier this week that it is looking to make a significant investment in India. After meeting Prime Minister Narendra Modi in the US, Tesla chief Elon Musk said he saw India as holding more promise than any other large country around the globe. He said he plans to pay a visit to the country in 2024. "I am confident that Tesla will be in India and we will do so it as soon as humanly possible," Musk told reporters after the meeting. "We don't want to jump the gun on an announcement, but I think it's quite likely that it will be a significant investment, a relationship with India."

India, the world's third-largest energy consumer, is pitching as an alternate destination for investment for US companies in a bid to capitalise on the growing chill between Beijing and Washington. State Large and Medium Industries Minister M B Patil said if Tesla considers setting up a plant in India, Karnataka, with its great potential and capabilities, is "The Destination". As a progressive state and a thriving hub of innovation and technology, Karnataka stands ready to support and provide the necessary facilities for Tesla and other ventures of Musk, including Starlink (a low Earth orbit satellite internet provider), the minister said. Karnataka, Patil said, is focused on being the hub for technology and 'Manufacturing 5.0', to propel the state for the next two decades. Karnataka is the ideal destination for Tesla's expansion into India, he said, adding that Chief Minister Siddaramaiah and he extended their invitation to Tesla in "words and spirit".