Elon Musk, the CEO of Tesla and one of the world’s wealthiest individuals, is scheduled to visit India later this month, with a significant highlight being his meeting with Prime Minister Narendra Modi. Musk, known for his unconventional approach, confirmed the upcoming meeting on X, a platform he owns.
Although Musk has met PM Modi twice before, this upcoming meeting will mark his first visit to India. Tesla’s potential entry into the Indian market and its efforts to establish a presence in the growing electric vehicle (EV) sector are expected to dominate the discussions. Despite being a global leader in EVs, Tesla has yet to enter India, which is the world’s third-largest vehicle market in terms of sales.
While talks between Tesla representatives and Indian officials have been ongoing for several years, progress has recently been made. In March of this year, the Indian government announced changes to its EV policy, including a reduction in import duties for EVs, provided that companies commit to local manufacturing within three years.
During his visit, Musk is expected to announce an investment of approximately $3 billion in India. Reports suggest that Tesla officials have begun scouting for manufacturing sites in the country and are being courted by various state governments. Additionally, Tesla has reportedly started producing right-hand-drive EVs at its German facility for import into India.
Although Tesla initially plans to rely on imports for its presence in India, it is anticipated to transition to local manufacturing once its planned facility is operational. Rumors suggest that Tesla is in discussions with Reliance Industries for this purpose, although neither company has confirmed this information yet.
