Tesla's CEO, Elon Musk, has confirmed his upcoming visit to India through a post on X (formerly Twitter), expressing his anticipation to meet Indian Prime Minister, Narendra Modi. This announcement comes in the wake of reports speculating Musk's visit and potential investment plans in India, possibly including the establishment of a new factory.
Musk, who has previously articulated his intention to introduce Tesla electric vehicles in India, is expected to be accompanied by other executives from the company during his visit. The meeting is scheduled to occur in the final week of April, although specific details remain undisclosed.
Musk had previously met PM Modi during the latter's US visit in June last year, where he discussed his plans to visit India in 2024 and the imminent entry of Tesla into the Indian market. Musk's visit follows the Indian government's recent announcement of a new electric vehicle policy that offers import duty concessions to companies investing a minimum of USD 500 million in setting up manufacturing units in the country.
Tesla had approached the Indian government last year seeking duty cuts for importing its vehicles. In 2022, Musk declared that Tesla would not commence manufacturing in India unless permitted to sell and service its cars in the country. In the prior year, he had suggested that Tesla could establish a manufacturing unit in India, contingent on the success of its imported vehicles. Musk had expressed his desire to launch Tesla vehicles in India, lamenting the 'highest import duties in the world by far of any large country'.
Recent Comments by Elon Musk
During a recent discussion on X (formerly Twitter) with Nicolai Tangen, CEO of Norges Bank Investment Management, Elon Musk affirmed Tesla's intention to enter the Indian market. Musk highlighted India's status as the world's most populous country and emphasized the importance of making electric vehicles (EVs) accessible in India, mirroring the trend in other countries. "India is now the most populous country in the world. India should have electric cars just like every other country has electric cars. It's a natural progression to provide Tesla electric vehicles in India," Musk stated, underlining the company's commitment to contributing to India's EV landscape.