The billionaire government had met PM Modi within the US final yr. (File)
New Delhi:
Confirming experiences of a deliberate go to to India, Tesla chief Elon Musk has posted on X that he’s wanting ahead to assembly Prime Minister Narendra Modi within the nation.
“Wanting ahead to assembly with Prime Minister @NarendraModi in India!” Mr Musk posted on the microblogging platform, which can be owned by him, on Wednesday.
Wanting ahead to assembly with Prime Minister @NarendraModi in India!
— Elon Musk (@elonmusk) April 10, 2024
The Tesla CEO didn’t, nonetheless, reveal particulars of when the go to is more likely to occur.
Earlier within the day, Reuters had reported that the billionaire would go to India later this month and was anticipated to make an announcement about his plans to put money into the nation and open a brand new manufacturing unit right here.
Mr Musk, who can be the founding father of SpaceX, had met PM Modi within the US in June final yr and described himself as a “fan”. “I’m assured Tesla will likely be in India and can achieve this as quickly as humanly attainable,” the CEO of the electrical carmaker had mentioned.
The announcement of the billionaire’s go to comes lower than a month after India had introduced a new electric vehicle policy which might reduce taxes by as a lot as 85 per cent on the import of a sure variety of EVs to “appeal to investments by reputed world producers”.
Beneath the coverage, firms establishing manufacturing amenities for passenger electrical vehicles could be allowed to import a restricted variety of items at a diminished customs or import responsibility of 15 per cent on autos priced at a minimal of $35,000 (roughly Rs 29 lakh) for a interval of 5 years.
It requires EV producers to take a position a minimal of Rs 4,150 crore ($500 million) and offers them three years to arrange manufacturing amenities in India. The opposite key requirement is reaching 50% home worth addition inside 5 years. The localisation clause states that 25% should be achieved by the third yr.
Reuters had reported earlier that Tesla officers are anticipated to go to India in April to scout websites for a producing plant that will require an funding of about $2 billion.