His planned visit comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million.
New Delhi: American electric car maker Tesla CEO Elon Musk on Wednesday confirmed his visit to India and his planned meeting with Prime Minister Narendra Modi.
In a post on X, he wrote, “Looking forward to meeting with Prime Minister @NarendraModi in India.”
Earlier in the day, sources said Musk is expected in India the week of April 22. He is likely to announce the company’s investment plans in the country during his visit, the sources said.
Looking forward to meeting with Prime Minister @NarendraModi in India!
— Elon Musk (@elonmusk) April 10, 2024
In June last year, Musk had met Modi during the prime minister’s US visit. The Tesla CEO had then said that he planned to visit India in 2024 while expressing confidence that the company would enter the Indian market soon.
His planned visit comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla.
According to the policy, the companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs/import duty of 15 per cent on vehicles costing $35,000 and above for a period of five years from the date of issuance of the approval letter by the government.