Elon Musk Finally Starts Making Real Moves in India With Tesla and Starlink
Tesla (TSLA, Financials) has opened its first store in Mumbai, and Starlink, Musk's satellite internet company, has gotten permission from the government to do business in India. It's a major change, and it happens at a time when Musk's ties in the U.S. and China are getting more problematic.
Warning! GuruFocus has detected 3 Warning Sign with ABNB.
For Musk, India is new because it has an expanding market, a growing middle class, and a government that wants to make the country a global manufacturing center. Having Tesla and Starlink on board is a major boost to India's credibility.
For now, Tesla is focusing on the high-end market. The Model Y will cost around $70,000, which is still far more than what most Indians typically pay for a car. But it's a chance to get your foot in the door and see how things go before you go all in.
Starlink, on the other hand, is focusing on rural areas where getting online is still hard. It's hard to put fiber in a lot of distant areas, so sending internet from space makes sense. It costs about $100 a month, which isn't cheap, but schools, hospitals, and government programs are expected to pay for it.
Musk also seems to be pulling away from politics in the U.S. It's possible that his recent fight with Donald Trump was merely a coincidence, but his move toward India reflects a wider movement in the world.
This time, it's more than just headlines. The wheels are turning. India may not be Musk's next big thing yet, but it's not just a fantasy on paper anymore.
This article first appeared on GuruFocus.
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