Elon Musk, who is included in the list of the world’s richest people, is going to visit India next week. Even before his arrival in India, news is coming that Tata Electronics, a Tata Group company that has set up a semiconductor factory in India, has signed an agreement with Tesla for the supply of chips. Musk can announce investment worth billions of dollars in India through Tesla and other businesses.
Elon Musk, who is included in the list of the world’s richest people, is going to come to India soon. But even before his arrival in India, news is coming that Tata Electronics, a Tata Group company which has set up a semiconductor factory in India, has signed an agreement with Tesla for the supply of chips. If this happens, India’s penetration in the international market will not only increase but its credibility will also increase.
Let us tell you, Elon Musk’s first visit to India is going to prove important in many respects. During this visit, he can announce investment worth billions of dollars in India through Tesla and other businesses.
This is how the plan is being made
According to an ET report, the American electric vehicle company has finalized a deal with Tata Group’s Tata Electronics regarding semiconductors. Under this strategic deal, Tesla is going to buy semiconductor chips from Tata company for its worldwide operations. It is being told that this deal was finalized secretly months ago. However, neither Tesla nor Tata has made any official announcement regarding this deal yet.
Tata will benefit from Tesla
If Tesla’s deal with Tata Electronics for semiconductors proves to be true, then it will be a big boost for this new business of Tata Group. Tesla is counted in the forefront of new age tech companies. Tesla had been the world’s largest EV company for years until recently losing out to Chinese EV company BYD in terms of sales. In such a situation, the confidence shown by Tesla will increase the global status of Tata Electronics.
Apple is also Tata’s partner
The semiconductor business is not very old for Tata Electronics. The Government of India has recently started various initiatives to make the country self-reliant and to increase manufacturing in the country. They also include promotion of semiconductor manufacturing. Tata Electronics has also taken advantage of the semiconductor PLI scheme. Before Tesla, companies like Apple have also joined Tata’s global customers.
When will Musk come to India?
The news of this deal between Tata and Tesla has come at a time when Elon Musk is going to visit India next week. Elon Musk will also meet Prime Minister Narendra Modi during his visit to India on April 21-22. There are speculations that during his visit, Elon Musk may announce the start of Tesla manufacturing in India. It is being said that Musk can put forward a plan to invest 2 to 3 billion dollars in many businesses including EV plants.