Maharashtra invites Tesla after Musk hints entry into India

Tesla reported its fifth consecutive quarterly profit on record revenue of $8.8 billion

India’s richest state Maharashtra has invited US electric-car maker Tesla, weeks after its Chief Executive Officer Elon Musk suggested entering the country next year.

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In a tweet on Thursday, state tourism and environment minister Aaditya Thackeray said he and industries minister Subhash Desai held a video call with Tesla executives earlier in the day to invite them to the state.

This evening I had the opportunity to participate in a video call by Industries Minister @Subhash_Desai ji with @Tesla team to invite them to Maharashtra. I was present not because of just the investment but my firm belief in electric mobility & sustainability @elonmusk

— Aaditya Thackeray (@AUThackeray) October 22, 2020

Earlier this month, Musk said “Next year for sure” on Twitter in reply to a post with a photograph of a T-shirt with the message: “India wants Tesla”.

Tesla’s entry into Asia’s third-largest economy could come at a time when Prime Minister Narendra Modi is increasingly focusing to promote the use of electric vehicles.

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Tesla this week reported its fifth consecutive quarterly profit on record revenue of $8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers. 

The electric car maker also affirmed its target to deliver half a million vehicles by the end of this year, a goal that will require it to significantly ramp up vehicle sales in the fourth quarter.