Founder of electric car manufacturing giant Tesla, Elon Musk, is slated to visit India towards the end of this month. This marks Musk's first-ever journey to India. He is expected to meet with Prime Minister Narendra Modi, a plan revealed through a social media post by Musk himself.
Musk has expressed optimism about his meeting with Prime Minister Narendra Modi in India, outlining the visit's significance as he may announce a substantial investment for setting up Tesla's new factory in the country.
It is suggested that in the week commencing April 22nd, Musk will have this much-anticipated meeting with PM Modi. Additionally, Musk may declare other important deals during this trip.
Investment of Two Billion Dollars for Tesla Plant
Prior reports indicated that Tesla officials might visit India to scout locations for a new plant. Now, it is confirmed that Elon Musk himself will be making the trip this month. Expectations are high for an investment close to two billion dollars for a Tesla facility in India.
Potential Tesla and Reliance Deal!
Tesla has shown interest in establishing a new plant and has been in search for a local partner to commence operations in India. According to reports, the American auto company may consider a joint venture with Reliance for the construction of the plant, eyeing possible sites in Gujarat and Maharashtra, with Maharashtra leading as the preferred location.
Musk Met PM Modi in the US Last Year
During Prime Minister Narendra Modi's visit to the United States in June last year, he met with Elon Musk. Following that, Tesla stated in July of the previous year that they were interested in producing an EV worth $24,000 and considering establishing a factory for it in India.
Elon Musk first showed interest in investing in India early in 2019. However, his concerns about high import taxes were evident. The Indian government has made it clear that if Tesla sets up a manufacturing plant in India, then discussions about concessions could be considered. The government has denied Tesla permission to sell China-made cars in India, insisting on a domestic plant for both local sales and exports.
