Adar Poonawalla Urges Elon Musk to Invest in India

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Adar Poonawalla Urges Elon Musk to Invest in India
09 May 2022
4 min read

News Synopsis

Adar Poonawalla of the Serum Institute of India (SII) has asked Tesla CEO Elon Musk to invest in the large-scale production of Tesla cars in India if his $44 billion Twitter deal fails to go through. 

Musk runs the electric car company Tesla, Boring, and SpaceX, and is the wealthiest person in the world, according to Forbes magazine. In April, SpaceX's CEO signed a deal to buy Twitter for $44 billion. Twitter has announced that the listed company will be privately owned once the acquisition is complete.

If Musk doesn't buy Twitter, Poonawalla said he should consider investing capital in India for high-quality, mass-produced Tesla cars. Poonawalla also assured Musk that this would be the best investment Tesla CEO will ever make.

Elon Musk's Twitter purchase, along with several other prominent names, is also funded by the International Cryptocurrency Exchange Binance, as per a Securities and Exchange Commission (SEC) filing.

Changpeng Zhao-led Binance participated in Musk's acquisition of Twitter and provided $500 million. Other prominent names involved in the transaction include Sequoia Capital, Fidelity Management, and Qatar Holding. Tesla's board member and Musk's self-proclaimed best friend, Larry Ellison, has promised $1 billion for the funding.

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