Adar Poonawalla urges Elon Musk to invest in India to manufacture Tesla cars

Serum Institute of India (SII) Adar Poonawalla has asked Tesla CEO Elon Musk to invest in India for large-scale production of Tesla cars in the country if his $ 44 billion Twitter deal does not go through.

Musk runs the electric car company Tesla Inc, heads The Boring Co and SpaceX and is, according to Forbes magazine, the richest person in the world. By April, the SpaceX CEO had signed a $ 44 billion deal to acquire Twitter. Twitter had announced that the public company will become privately owned after the acquisition is completed.

Musk is currently dealing with investors to fund his $ 44 billion purchase of Twitter. He hopes to complete his Twitter acquisition of $ 54.20 per share this year in one of the world’s largest leveraged buyouts.

Poonawalla stated that if Musk does not end up buying Twitter, then he should consider investing capital in India for high-quality production of Tesla cars on a large scale. Poonawalla also assured Musk that this would be the best investment Tesla’s CEO will ever make.

“Hey @elonmusk, if you do not end up buying @Twitter, try investing some of that capital in INDIA for high quality large scale production of @Tesla cars. I assure you this will be the best investment you will ever make it, “Poonawalla tweeted.

An application from the Securities and Exchange Commission (SEC) on Thursday had revealed that Elon Musk’s Twitter buy-in has been funded by the international crypto exchange Binance, among several other prominent names.

The Changpeng Zhao-led Binance participated in Musk’s acquisition of Twitter and provided $ 500 million in funding. Other prominent names who participated in the trade were Sequoia Capital, Fidelity Management, Qatar Holding and many more. Larry Ellison, a board member at Tesla and a self-proclaimed close friend of Musk, has committed $ 1 billion in funding.

Sequoia deposited $ 800 million, while Fidelity deposited $ 316,139,386, the SEC filing showed. Investors like AM Management & Consulting, Andreessen Horowitz (a16z) founded by Marc Andreessen and Ben Horowitz, Brookfield, Honeycomb Asset Management LP, Litani Ventures, etc. also participated.

(With input from Reuters)

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