Elon Musk may unveil Tesla’s India investment plan soon
New Delhi, India – Tesla chief Elon Musk may unveil India's investment plan this month. Confirming his upcoming visit to India, Musk had tweeted recently that he was looking forward to meeting Prime Minister Narendra Modi.
"Looking forward to meeting with Prime Minister @Narendramodi in India!" Musk wrote on X.
Musk's visit to India where he is likely to announce investment in the country, comes at a time when Prime Minister Narendra Modi is bidding for his third term and may give a fillip to the government's image for attracting big-ticket investment.
It may also boost BJP'S polls prospects given the party in power at the Centre is aggressively campaigning with global corporates to invest in India. Earlier this week in an X Spaces session, Elon Musk had said that India, like every other country, should have electric cars and it will be a natural progression for his company to provide Tesla electric vehicles in the country.
According to sources, Musk, during his India visit, might make the much-anticipated announcement of setting up Tesla's first plant in the country. Musk will likely meet Prime Minister Modi on April 22 in the national capital, according to Reuters.
Apart from announcing Tesla's maiden foray in India, Musk is also expected to disclose details of the automobile major's plans for the country. However, the final agenda for Musk's trip to India is yet to be confirmed.
It was reported earlier that Tesla officials were exploring potential sites in India for a manufacturing plant, which is anticipated to necessitate an investment of approximately $2bn.
Tesla's interest in expanding its presence in the Indian market has intensified, with the company actively searching for a suitable location to establish a cuttingedge manufacturing facility.
According to sources, the state governments of Maharashtra and Gujarat have extended attractive land offers to Tesla for this purpose, signalling significant progress in India's electric mobility landscape.
As reported earlier, initially Tesla would manufacture entrylevel cars in India, priced around Rs2.5mn, with an annual capacity of 500,000 units. Tesla's move seemed to have fast-tracked in the wake of India's new EV policy, where incentives are proposed for setting up manufacturing units in India.
Earlier in June last year, Elon Musk said he was planning to visit India in 2024, added that he was confident that the electric carmaker will be in India and will do so "as soon as humanly possible."