Tesla founder Elon Musk will visit India this month and is scheduled to meet Prime Minister Narendra Modi. During the visit, Musk may announce Tesla's big investment plans in India. Musk himself has announced plans to come to India on the his official X-Handle. "Looking forward to meeting Prime Minister Narendra Modi," he wrote.
Elon Musk announced that he would visit India in 2024 during a meeting with Narendra Modi during his visit to the United States last year. News agency Reuters had earlier claimed that Tesla’s top executives may visit India this month to determine the location for their proposed factory. The Reuters report also claimed that about US$2 billion will be invested to build the factory.
Earlier, Musk had said that supplying Tesla electric vehicles to India was among the company's plans. Musk will be accompanied by top Tesla executives. According to sources, the masks could arrive in India on April
The central government has already announced a new policy to encourage companies like Tesla to invest in India. According to the policy, companies investing a minimum of US$500 million to set up electric car manufacturing plants in India will be exempted from import duties. In addition, a limited number of electric vehicle imports valued above US$35,000 will be subject to import duties of just 15 per cent for five years.
Last year, Tesla applied to the central government for import duties and tax exemptions. In 2022, Musk himself said, first he wants the opportunity to export to India to sell and service Tesla cars only in case Musk also stipulated that Tesla will build its own factory in India.
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