10 April 2024 – Tesla CEO Elon Musk is reportedly planning a visit to India later this month to meet with Prime Minister Narendra Modi. During this visit, Musk is anticipated to disclose his investment intentions and announce plans for establishing a new factory in the country, marking a significant development in Tesla’s expansion strategy.
According to Reuters, Elon Musk is scheduled to meet PM Modi in New Delhi during the week of April 22. Concurrently, Musk is expected to make a separate announcement regarding Tesla’s plans for India. This visit comes amidst earlier reports indicating Tesla’s exploration of potential manufacturing sites in India, with an estimated investment of approximately $2 billion.
Recent reports have also hinted at Tesla’s interest in establishing a local partnership to facilitate its operations in India. The possibility of a joint venture with Reliance Industries Limited has been suggested, with discussions focusing on constructing a manufacturing facility within the country. While various locations, including Gujarat and Maharashtra, are under consideration for the plant, Maharashtra appears to be gaining traction as the preferred choice.
Elon Musk has previously confirmed Tesla’s entry into the Indian market during a Spaces session hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. Musk emphasized the importance of introducing electric vehicles in India, given its status as the world’s most populous country. He asserted that providing Tesla’s electric vehicles in India aligns with the natural progression towards sustainable transportation.
