Tesla CEO Elon Musk met with Indian Prime Minister Narendra Modi before Modi’s summit with U.S. President Donald Trump, showcasing his influence on the diplomatic stage. Tesla’s stock also saw gains for the second consecutive day, reinforcing Musk’s position as Trump’s “First Buddy” despite growing pressure from the opposition.
Musk met with Modi on Thursday at Blair House, a guest residence near the White House in Washington, D.C. The meeting took place just before the Trump-Modi summit and reportedly covered a wide range of topics, including space and technology. After the meeting, Modi posted on X, saying, “I talked about India’s efforts towards reform and furthering ‘Minimum Government, Maximum Governance.”
Notably, the meeting was set up in a format similar to an official summit, drawing significant attention from U.S. media. The New York Times remarked that seated next to Modi in front of the U.S. flag, Musk looked like a head of state. The only difference, the report noted, was that aides accompanied Modi, while Musk was joined by his close associate Shivon Zilis and three of his children.
However, when reporters asked whether Musk had met with Modi as a corporate leader or as a representative of the U.S. government, President Trump responded that he didn’t know they had met.
On Wall Street, Tesla’s stock closed at $355.94 per share, up 5.77% from the previous day. After five consecutive days of declines, Tesla’s stock had ended at $328.50 on Tuesday. Still, it rebounded by 2.44% to $336.51 on Wednesday before rising further to $345.00 at the opening on Thursday, continuing its upward trend. The rebound is primarily attributed to expectations that Musk, as the head of the Trump administration’s Government Efficiency Department (GODE), will expand his influence and accelerate regulatory relaxations crucial for Tesla, particularly in autonomous driving.
Meanwhile, on the same day, the U.S. State Department put a $400 million plan to purchase electric armored vehicles on hold. The decision came after reports suggesting a potential contract with Tesla sparked controversy.