The fully-electric 2019 Tesla Model S rammed into a tree in Carlton Woods and burst into flames that took more than 32,000 gallons of water to extinguish.
In October, Tesla CEO Elon Musk said on Twitter the company will enter India in 2021 "for sure", though the billionaire had issued similar tweets in the past.
Russell founded a business to help self-driving cars avoid collisions and today is one of the most successful entrepreneurs with his company going public last December.
Even though the mid-air explosion in the skies looked like a meteor shower, experts suggested that the event could have happened due to a space junk burn out.
Musk's death hoax started doing the rounds just a day after billionaire investor Ron Baron sold $1.8 million worth of Tesla shares, causing the company's share prices to dip.
The reverse-merger represents the largest injection of capital into Lucid Motors since Saudi Arabia's Public Investment Fund invested more than $1 billion in 2018.
With the growing number of space junk posing risk to functioning satellites and the ISS, Japan is developing a wooden satellite that can withstand the harsh space environment.