As the $800-per-share belle of the ball, Tesla is now being wooed by none other than India and China, two of the densest populations on earth, both represented by governments that would like to entice this sort of business in order to shore up national economies.
In fact, that’s how it’s worded by Aftab Ahmed and Aditi Shah writing for Reuters who reveal that according to the Indian transport minister Nitin Gadkari, the country, in so “wooing” the firm, is willing to make conditions right for Tesla to ramp up electric vehicle production inside of its borders.
“Gadkari’s pitch comes weeks after billionaire Elon Musk’s Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021,” the pair write. “Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India.”
Pointing out obstacles to this objective, Ahmed and Shah note that Tesla currently sells a lot more in China, and that China has certain rules that favor the company’s production and sales.
However, they also chronicle Tesla’s recent inroads into India with a research and development unit in Bengalaru and a production unit in Karnatka in the South – there’s also an Indian initiative to provide $4.6 billion to battery companies working on EV power production.
Meanwhile, Tesla head Elon Musk and Jeff Bezos of Amazon continue to run neck and neck for richest man in the world, with equity changes during the pandemic putting first one, then the other, in the top spot.
Tesla, for its part, has gained massive value in its corporate equity – a year or so ago, TSLA was worth about $100. As mentioned above, shares are now topping $800 per share, and that after a 5 to 1 stock split following wild rally behavior that took the company up several notches.
Will Tesla develop in India or China – or both? Follow this leading company in a sector that is full of promise.