International
Tesla head Elon Musk plans to visit India in April to meet Prime Minister Narendra Modi. He is likely to announce investments and the opening of a new factory there.
The visit which is scheduled for the week of April 22 in New Delhi will involve discussions about Tesla's plans for India.
Musk will be accompanied by other Tesla executives as per unconfirmed sources.
Although the exact agenda of the trip is still uncertain, it marks an important development in Tesla's efforts to establish a presence in India.
This visit follows previous discussions between Musk and Modi where Tesla lobbied for lower import taxes on electric vehicles.
India recently announced a new policy reducing such taxes to 15% from 100% , aiming to attract investment in EV manufacturing who can invest $500 million on setting up a factory.
Tesla's move into India comes amidst slowing demand in its main markets and increasing competition. While India's EV market is currently small, it is expected to grow, with the government targeting a significant increase in EV sales by 2030.
Sources say that Elon Musk is in the process of investing $2 Billion in India on the Tesla plant.
Advertisment
