Elon Musk, Tesla CEO is scheduled to visit Bharat later this month to have discussions with PM Modi, according to the media sources. During his visit, Musk is expected to announce plans for investments and the establishment of a new factory in the country.
The billionaire entrepreneur is expected to meet Modi in New Delhi during the week id April 22, where he is expected to make an announcement regarding Tesla’s plans for Bharat.
PM Modi, during his visit to the United States in 2023 also met Elon Musk. Following the meeting Musk stated, ‘I can say he wants to do the right thing for Bharat. He wants to be open, he wants to be supportive of new companies, but at the same time, make sure it accrues to Bharat’s advantage, which is obviously that’s the job I am saying. I am a fan of Modi’.
Recently, Tesla has put efforts to enter the Bharatiya Electric Vehicle market to encash the updated EV policy that accounts for lower import taxes, exploring a suitable location to establish the company’s first plant in the country.
Meanwhile, in March, the Centre floated a new Electric Vehicle (EV) policy aimed at promoting the country as a global manufacturing hub for EVs. The policy mandated a minimum investment of Rs 4,150 crore with no maximum investment cap, designed to attract investments from reputable global EV manufacturers.
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