On Friday, Tesla Inc. TSLA CEO Elon Musk and Indian Prime Minister Narendra Modi held talks about potential collaboration in technology and innovation, signaling a strong push for deeper ties in these areas.
What Happened: In a post on social media platform X, Prime Minister Modi shared that he and Musk had discussed "various issues," including the topics they touched upon during their earlier meeting in Washington, D.C., this year.
Modi went on to add that the discussion revolved around the “immense potential for collaboration” in tech and innovation.
Why It's Important: The meeting between the two comes amid growing anticipation for Tesla’s expansion into the Indian market, further fueled by a recent test run of a Tesla Model Y in Mumbai.
Tesla has also been hiring for roles in India, a sign that the company is serious about establishing a presence there after facing challenges with local tariffs and manufacturing requirements.
Last month, Musk's SpaceX partnered with India’s Jio Platforms to expand Starlink satellite internet services. SpaceX has also signed up a similar agreement with Bharti Airtel, Jio’s main competitor.
Price Action: Tesla shares dipped 0.070% on Thursday and slipped an additional 0.20% in after-hours trading, settling at $240.89. While the stock has seen some recent gains, it’s still down 36.36% year-to-date, according to Benzinga Pro.
The EV leader currently boasts a solid growth score of 67.60%, based on Benzinga Edge Stock Rankings. Click here to see how it stacks up against other top industry players.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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