Elon Musk to visit India, meet PM Modi, investment plans may be revealed.

Elon Musk Visits India: Tesla CEO Elon Musk is visiting India in the month of April and will meet Prime Minister Narendra Modi during the visit. It is believed that during his visit to India, he may unveil the investment plan as well as announce the construction of new Tesla plants.

Elon Musk will meet PM Modi.

In its report, the Reuters news agency has quoted sources as saying that Elon Musk, the richest man in the world, will visit India in the week starting from April 22. During this visit he will meet PM Modi. After this meeting, they will separately reveal their investment plans in India. The sources declined to be identified and said the visit was top secret. The Prime Minister’s Office and Tesla have refused to comment on the matter. However, changes can also be seen in the agenda of Elon Musk’s visit to India.

Potential investment of 2 billion dollars on EV plant

Earlier it was reported that Tesla officials may visit India this month to see the location of manufacturing plants. Tesla’s manufacturing plant is expected to invest $2 billion. It is believed that Tesla’s team may visit several states to find a suitable location for its proposed plant. Maharashtra and Gujarat have made attractive offers to Tesla to set up factories as well as land. Apart from this, the Telangana government is also in talks to bring an EV manufacturing plant here. The Tesla team may visit several states including Gujarat, Maharashtra and Tamil Nadu.

Government’s New EV Policy

Elon Musk has also hinted at Tesla’s entry into India. Ever since the announcement of the Indian government’s new EV policy, speculations about Tesla’s entry into India had intensified. In the new EV policy, the government has given exemptions to companies investing in production in the country. In the new EV policy, companies investing more than $500 million have been announced to benefit from 15 percent customs duty for 5 years. To take advantage of this they have to set up their plant in India within 3 years. In addition, 25% of the parts made in India must be used within 3 years and 50% of the parts made in India must be used within 5 years. With this encouragement of the government, new employment opportunities will be created in the country.

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Elon Musk (T) Tesla (T) Narendra Modi

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