Tesla CEO Elon Musk on Wednesday said he is looking forward to meeting with Prime Minister Narendra Modi in India. The statement comes amid Musk's scheduled visit India later this month for a significant meeting with PM Modi.
Elon Musk is also likely to announce the company's investment plans in the country and the establishment of a new factory in the country during his visit, as per sources.
Musk, who has described as a 'natural progression' to provide Tesla electric vehicles in India, is likely to be accompanied by other company executives during the visit that is expected in the week of April 22, a source said. He is also likely to make a separate public announcement concerning Tesla's ambitions in India.
Earlier in June 2023, Elon Musk met with Modi during the latter's US visit and stated that he planned to visit India in 2024 while expressing confidence that Tesla would enter the Indian market soon.
His upcoming visit to India comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million.
Earlier, Reuters suggested that Tesla officials would inspect potential sites for a manufacturing plant during their visit to India this month, the estimated investment for which would stand at around $2 billion.
Additionally, sources have revealed that Tesla has commenced production of right-hand drive vehicles at its German plant, targeting export to India later this year.
Musk has earlier mentioned the importance of introducing electric cars to India, stating, "India should have electric cars like every other country has electric cars. It's a natural progression to provide Tesla electric vehicles in India."