Elon Musk to visit India for meeting with PM Modi

Wed, 10 Apr 2024 22:30:59 GMT
BBC News - Technology

The Tesla boss is expected to announce major investment plans in India as the firm faces slowing...

Elon Musk has announced on his social media platform X, formerly Twitter, that he will visit India to meet Prime Minister Narendra Modi without giving a date.

The Tesla boss is expected to announce major investment plans in the country soon.

Last month, India cut import taxes on electric vehicles for global carmakers which commit to investing $500m and starting local production within three years.

In 2021, the Tesla boss said that India's high import duties had prevented the firm from launching its cars in the world's fastest-growing major economy.

Mr Musk wrote in a post on Wednesday: "Looking forward to meeting with Prime Minister Narendra Modi in India!".

The BBC understands that Tesla's plans for starting manufacturing in India will feature in the talks.

A Tesla investment announcement during the election would bolster the business-friendly credentials of Mr Modi, who has courted foreign companies to set up manufacturing operations in India and create jobs.

The two men met last June in New York when the technology multi-billionaire said Mr Modi had been "Pushing us to make significant investments in India, which is something that we intend to do".

Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China.

India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector.