Business Standard

Musk, Modi to meet in April; Tesla talks on cards


Tesla chief Elon Musk will visit India this month to meet Prime Minister Narendra Modi and is expected to make an announceme­nt on plans to invest and open a new factory in the country, two sources with direct knowledge said. Musk will meet Modi in the week of April 22 in New Delhi, and will separately make an announceme­nt about his India plans, said the two sources, who declined to be named as the trip details are confidenti­al.

Reuters is first to report details of Musk’s planned India visit. Modi’s office and Tesla did not respond to requests for comment. Musk’s final India trip agenda could still change.

Musk would be visiting India just as it heads into a two-monthlong election with nearly a billion voters, starting April 19, in which Modi is widely seen winning a rare third term. A Tesla investment announceme­nt during the election would bolster the business-friendly credential­s of Modi, who has for years courted foreign companies to set up manufactur­ing operations in India and create jobs. Musk will be accompanie­d by other executives during his visit, said the first source.

Musk and Modi last met in New York in June, and Tesla for months lobbied India to lower import taxes on electric vehicles while it weighed up a factory there. India last month unveiled a new EV policy lowering import taxes to 15 per cent from 100 per cent on some models if a manufactur­er invests at least $500 million and sets up a factory too.

Tesla has also begun production of right-hand drive cars at its German plant for export to India later this year, sources have said.

Musk said this week on X that “India should have electric cars like every other country has electric cars”.

 ?? ?? Tesla chief Elon Musk (left) and Prime Minister Narendra Modi last met in June 2023 in New York
Tesla chief Elon Musk (left) and Prime Minister Narendra Modi last met in June 2023 in New York

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