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In India this week, there was a lot of hype from local publications around the meeting of Tesla CEO Elon Musk and Prime Minister Narendra Modi. Many felt that this would lead to the conclusion of the Indian government’s courtship of Tesla to build a factory in the country.
Despite all the hype, there was no definitive answer from Musk, who only shared vague responses like saying he was looking to invest in the country “as soon as humanly possible” and that Tesla is “trying to find the right timing.”
That said, there has been a change in tune since last year, when Musk said he wouldn’t manufacture cars in India until the government agreed to allow selling Teslas in the country. The main point of contention between the two parties was the high import tariffs for cars in India.
The seeming change in Musk’s stance caught my attention, as it shows that he too realizes the importance of the Indian market for Tesla. EV adoption has been surging in the country, with electric car sales accelerating by 174% in the financial year ending March 2023 from a year before.
EVs are gaining popularity in Southeast Asia too. Sales of these vehicles have been rising, with Thailand being the biggest market. My colleague Shadine maps out the key EV players in the region in this week’s Big Story.
Beyond just EV makers, the region is also witnessing the birth of startups in battery swapping, charging infrastructure, and even recycling and financing. One key highlight of the story is government policy efforts across the region to support EVs and an analysis of the most friendly countries for these vehicles in the region.
Speaking about support, in this week’s AI Odyssey, I explore a generative AI tool that can help startups develop code for their platform with just a prompt, Meet OpenAI’s GPT Engineer, which can help expedite the process of product development. But first, the Big Story.
— Collin
THE BIG STORY
Mapping SEA’s electric vehicle players
Image credit: Made by Tech in Asia using AI
Though Thailand is the region’s biggest market for EVs, Singapore is home to the largest number of startups in the industry.
AI ODYSSEY
Promising AI projects we’re noticing
FYI
NEWS YOU SHOULD KNOW
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