Elon Musk is reportedly scheduled to visit India this month, with speculation that he may unveil investment plans for the country. Confirming his visit, Tesla CEO Elon Musk made the announcement on X (formerly Twitter). He wrote, “Looking forward to meeting with Prime Minister @NarendraModi in India!”
Following reports of the billionaire’s upcoming visit to India this month, speculation is ripe that he may unveil investment plans, potentially including the establishment of a new factory. Previously, Elon Musk characterized the provision of Tesla electric vehicles in India as a ‘natural progression.’
Sources have indicated that the Tesla CEO will likely be joined by other company executives during the upcoming visit, which is anticipated to occur in the final week of April. However, Elon Musk has not disclosed any specific details regarding the visit.
In June of the previous year, Elon Musk held discussions with PM Modi during the latter’s visit to the United States. During this interaction, Musk expressed his intention to visit India in 2024 and revealed plans for Tesla’s entry into the Indian market, as reported at the time.
Elon Musk’s forthcoming trip to India comes shortly after the government unveiled a new electric vehicle policy. This policy includes provisions for import duty concessions for companies that establish manufacturing facilities within the country, provided they make a minimum investment of USD 500 million.
Last year, the company engaged with the Indian government to request duty reductions for importing its vehicles into the country. Prior to this, in 2022, Elon Musk stated that Tesla would refrain from manufacturing its products unless it was permitted to sell and service its cars in India. A year earlier, Musk had expressed that Tesla might consider establishing a manufacturing facility in India if it could successfully introduce imported vehicles into the country. However, Tesla encountered obstacles due to the exceptionally high import duties in India, which Musk described as the highest among large countries worldwide.
