Elon Musk Clarifies China Comments, Says Gigafactory In India Would Make Long-Term Sense

• Tesla Motors Inc TSLA's CEO Elon Musk tweeted over the weekend that a Gigafactory in India would "probably make sense in the long term."
• Musk highlighted the "high local demand" in India.
• Musk also clarified recent comments he made to Chinese media sources concerning a factory in the country.

Elon Musk, Tesla's eccentric CEO, is known for his long-term strategic planning and vision. Over the weekend, he offered both a near-term and long-term update.

Commenting on the highly anticipated and lower cost Model 3 sedan, Musk tweeted that it is due in approximately two years. Within a year following the new launch, the company could eye opening a factory in China to satisfy local demand, while a factory in Europe would happen for the same reason.

Recent media reports suggested that Musk was looking to begin producing cars in China for the local market within two years. Reuters cited "Chinese language transcripts of remarks" made by Musk – which the CEO refuted in a Tweet: "My comments in China weren't transcribed correctly."

Musk added that Tesla will keep making cars and batters in California and Nevada "as far into future as I can imagine."

Musk also responded to a Twitter user who asked if the company has any plans to open a factory in India. He responded that a Gigafactory in India "would probably make sense in the long term" given the "high local demand."

Finally, Musk tweeted that all of his commentary he shared are all things he has said before and are "naturally needed to improve the affordability of his cars.