Tesla CEO Elon Musk to visit India this month, to meet PM Modi
Tesla CEO Elon Musk to visit India this month, to meet PM Modi
Confirming reports of a planned visit to India, Tesla chief Elon Musk has posted on X that he is looking forward to meeting Prime Minister Narendra Modi in the country.
New Delhi: American electric car maker Tesla CEO Elon Musk is visiting India later this month to meet Prime Minister Narendra Modi and is likely to announce the company’s investment plans in the country, according to sources.
Mr. Musk, who has described as a ‘natural progression’ to provide Tesla electric vehicles in India, is likely to be accompanied by other company executives during the visit that is expected in the week of April 22, a source said.
In June last year, Mr. Musk met with Mr. Modi during the latter’s US visit and stated that he planned to visit India in 2024 while expressing confidence that Tesla would enter the Indian market soon.
His upcoming visit to India comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla.
As per the policy, the companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs /import duty of 15 per cent on vehicles costing USD 35,000 and above for a period of five years from the date of issuance of the approval letter by the government.
Tesla CEO Elon Musk to visit India this month, to meet PM Modi
Confirming reports of a planned visit to India, Tesla chief Elon Musk has posted on X that he is looking forward to meeting Prime Minister Narendra Modi in the country.
New Delhi: American electric car maker Tesla CEO Elon Musk is visiting India later this month to meet Prime Minister Narendra Modi and is likely to announce the company's investment plans in the country, according to sources.
Mr. Musk, who has described as a 'natural progression' to provide Tesla electric vehicles in India, is likely to be accompanied by other company executives during the visit that is expected in the week of April 22, a source said.
In June last year, Mr. Musk met with Mr. Modi during the latter's US visit and stated that he planned to visit India in 2024 while expressing confidence that Tesla would enter the Indian market soon.
His upcoming visit to India comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla.
As per the policy, the companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs /import duty of 15 per cent on vehicles costing USD 35,000 and above for a period of five years from the date of issuance of the approval letter by the government.
