Tesla CEO Elon Musk is charting a visit towards the end of this month to meet with India's Prime Minister Narendra Modi, where he is expected to reveal his investment plans and the possible opening of a new manufacturing plant in India. According to Reuters, Musk's visit is scheduled for the week starting April 22. The meeting with PM Modi is likely to take place in New Delhi.
Reports suggest that this will mark Elon Musk's first visit to India, with an announcement expected shortly. Speculations indicate that Musk could unveil his investment strategy and the launch of an electric vehicle plant, highly anticipated by Indian customers.
Tesla Seeking Location for Its Plant
Musk and Tesla officials were anticipated earlier this month to scout for a location suitable for Tesla's plant. Now, Musk's arrival could herald an investment of approximately 2 billion dollars.
Speculations of a Deal with Reliance
Recently, talks surfaced about Tesla seeking a local partner to establish operations in India. A report by The Hindu BusinessLine pointed out the potential joint venture with Reliance for a manufacturing plant, with Gujarat and Maharashtra being the potential sites, the latter being a favorite.
Last Year's Meeting with PM
Recall that in June last year, while on a trip to the US, PM Modi had a meeting with Musk. Last July, Tesla expressed interest in setting up a factory in India to produce a $24,000 EV.
Musk's interest in investing in India first came to light in early 2019, though he had concerns about high import taxes. However, the Indian government has indicated a willingness to consider concessions if Tesla were to establish a manufacturing plant within the country. The government has not permitted Tesla to sell China-made cars in India and has suggested establishing a domestic manufacturing plant for local sales and export purposes.
