Tesla is now back with its India plans and its chief Elon Musk is set to visit India. Musk today confirmed that would be meeting Prime Minister Narendra Modi in India.
“Looking forward to meeting with Prime Minister @NarendraModi in India!,” Musk said in a post on X (formerly Twitter) today.
Musk did not share any additional details regarding his meeting with Modi. Earlier in the day, a Reuters report said Musk would be meeting Modi in the week of April 22 in New Delhi, and will separately announce his India plans.
Tesla has been wanting to come to India for a long time. But the company did not make advancements in its plans, citing the country’s high import duty.
Musk had met Modi in New York last year, and the company has been lobbying for lower import duties on cars before committing to any investments in India.
However, following the government’s new electric vehicle policy in March, Tesla’s name has been abuzz in the Indian automotive industry.
The new policy drastically reduces the import duty on certain electric cars to 15% from the current 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.
The entry of Tesla, which has a legacy of disrupting the market, is expected to boost the competition in India’s electric car market.
Major automakers such as Maruti Suzuki and Hyundai Motor India are expected to debut their mass-market electric car by the end of this year or early next year.
Last week, media reports said Tesla has started production of right-hand drive cars at its plant in Germany for export to India later this year.
