American electric car maker Tesla CEO Elon Musk on Wednesday confirmed his visit to India and his planned meeting with Prime Minister Narendra Modi.In a post on X, he wrote, "Looking forward to meeting with Prime Minister @NarendraModi in India."The purpose of the meeting is expected to be about discussing Musk's intentions to invest in the country and establish a new factory for Tesla.
Looking forward to meeting with Prime Minister @NarendraModi in India!
— Elon Musk (@elonmusk) April 10, 2024
Earlier in the day, sources said Musk is expected in India the week of April 22. He is likely to announce the company's investment plans in the country during his visit, the sources said.The announcement of the billionaire's visit comes less than a month after India had announced a new electric vehicle policy which would cut taxes by as much as 85 per cent on the import of a certain number of EVs to "attract investments by reputed global manufacturers".
Under the policy, companies setting up manufacturing facilities for passenger electric cars would be allowed to import a limited number of units at a reduced customs or import duty of 15 per cent on vehicles priced at a minimum of $35,000 (approximately Rs 29 lakh) for a period of five years.Tesla has been actively surveying various locations across India, with Gujarat and Maharashtra emerging as potential sites for the plant. Maharashtra appears to be the favoured choice, as per the report's claims.
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