Elon Musk India Visit / Elon Musk is coming to India, may meet PM, may announce big investment

Vikrant Shekhawat : Apr 10, 2024, 09:14 PM
Elon Musk India Visit: Elon Musk, owner of the world's leading electric car company Tesla, is going to visit India this month. During this time he will also meet Prime Minister Narendra Modi. Musk is expected to announce plans to invest in India and open new factories. News agency Reuters has given this information quoting two sources directly related to the case. The agency quoted sources as saying that Elon Musk will meet PM Modi in New Delhi in the week of April 22. They will make separate announcements about their plans for India.

PM Modi and Musk met in New York

Sources said that Tesla CEO will be accompanied by other officials during his visit to India. Reuters is the first to provide information about Musk's visit to India. However, there may be a change in Musk's final India trip agenda. Musk and PM Modi last met in New York in June. At the same time, Tesla had been requesting for reducing the import duty on electric vehicles for months.

India has brought a new EV policy

India has come up with a new EV policy last month. In this, if a manufacturer invests at least 500 million dollars in India and sets up a factory, then the import duty on some models has been reduced from 100 percent to 15 percent. Earlier this month, Reuters quoted sources as saying that the company has started production of right hand drive vehicles at its facility in Germany. The cars are due to be exported to India later this year, signaling Tesla's progress toward a potential entry into the world's third-largest vehicle market. The agency had also said that a Tesla delegation may visit India in late April to assess potential locations for a domestic car manufacturing facility.