Tesla's Musk says eyeing significant India investments after meeting Modi

As China's economy grows, wages have also gone up which makes manufacturer there more expensive. India, having a similar workforce size, hasn't seen wages increase as much as seen in China. Making it an obvious choice to start moving manufacturing to the country. We already seen this with Apple, and more companies will follow. India also has better relations with the US than China.

BYD is making progress on the sub $20K car with 500 km plus range.

What matters for India is will any of these companies enable local battery manufacturing capabilities.

No wonder Buffet bet on BYD.