Tesla CEO had plans to meet Narendra Modi in India in April and reportedly announce Tesla’s entry into the country. However, he postponed the trip, citing some heavy Tesla obligations.
08 Jun 2024 | 2691 Views | By Autocar Pro News Desk
Tesla Chief Executive Officer Elon Musk congratulated Indian Prime Minister Narendra Modi on his victory in the recent general elections. Musk said he is looking forward to his companies doing exciting work in India.
Musk was scheduled to visit India in April but later postponed his trip, citing some ...
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Tesla Chief Executive Officer Elon Musk congratulated Indian Prime Minister Narendra Modi on his victory in the recent general elections. Musk said he is looking forward to his companies doing exciting work in India.
Musk was scheduled to visit India in April but later postponed his trip, citing some Tesla obligations. “Congratulations @narendramodi on your victory in the world’s largest democratic elections! Looking forward to my companies doing exciting work in India,” Musk said on X.
Modi is set to start his third term as the Prime Minister of India following his oath-taking ceremony, which is planned for Sunday.
Musk has been actively considering bringing Tesla cars to India, but the company is yet to take its plans forward, citing India’s high import duty.
Musk met Modi in New York last year and has been pushing for lower import duties on cars before committing any investments in India.
Following the government’s new electric vehicle policy in March, Tesla’s name had been doing the rounds as a potential beneficiary of the policy. In April, Musk said on his social media platform that he was looking forward to meeting with Modi, without sharing any details. However, media reports citing New Delhi sources said that Musk would be meeting Modi in the week of April 22 in New Delhi, and would soon after announce his India plans. Musk later said that his trip to India had been delayed.
"Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year," he had said in his post on X on April 20.
India’s new EV policy drastically reduces the import duty on certain electric cars to 15% from 70-100% for five years. The lower duty is subject to a commitment to invest at least Rs 4,150 crore, or USD 500 million, and make in India within three years.
Meanwhile, Musk also reportedly has plans to bring his satellite internet venture Starlink to India. Starlink has received in-principal approval from the telecom ministry here, as per media reports.