According to foreign media reports, Tesla CEO Elon Musk plans to visit India from April 22 to 28 to meet with Indian Prime Minister Narendra Modi. According to people familiar with the matter, Elon Musk may announce Tesla’s plans to expand operations in India. Plan to invest in building a factory.
According to sources, Elon Musk will meet with Indian Prime Minister Modi alone in India on April 22 and announce his car-making plans in India. Elon Musk will visit India accompanied by other executives.
Elon Musk later said on social media, “Looking forward to meeting Indian Prime Minister Modi.” He also confirmed the news. Elon Musk also said, “India should have electric vehicles like other countries, and offering Tesla electric vehicles in India is a natural thing.”
Analysts said that Tesla’s entry into India is mainly because the demand for electric vehicles in the United States and China is slowing down, and at the same time, competition in the Chinese electric vehicle market is intensifying. Tesla’s first-quarter deliveries fell and were lower than expected.
India announced a new electric vehicle policy last month that will reduce import taxes on certain models from 100% to 15% if it invests at least US$500 million to set up factories. Electric vehicles will account for only 2% of total car sales in India in 2023, but the government aims to increase this proportion to 30% by 2030.
