Musk travels to India to meet Modi amid big election and discuss Tesla's investment plans
Kyiv • UNN
Musk plans to visit India and meet with Prime Minister Modi during the country's national elections to discuss Tesla's plans to launch production and make significant investments in India.
Against the backdrop of national elections, Ilon Musk is going to visit India to meet with Prime Minister Modi to discuss plans to invest and launch production in the country. This UNN writes with reference to Bloomberg and the BBC.
Details
Tesla CEO Ilon Musk is planning to visit India to meet Prime Minister Narendra Modi.
"Looking forward to meeting Prime Minister Narendra Modi in India!" - he wrote in X.
The exact date of the meeting has not been disclosed, but a source told the BBC that the meeting could take place in late April at Modi's official residence in New Delhi.
Musk's visit coincides with the start of India's long six-week election, which begins April 19. Modi's Hindu-nationalist Bharatiya Janata Party is widely predicted to win a third term in power.
Columnist Bloomberg writes that Musk's visit will give Modi a chance to get into the news cycle within days. And the likely opening of a new market for the U.S. giant at a time when it needs to diversify will bolster Modi's business reputation.
Context
It is expected that a key part of the talks will be to discuss Tesla's plans to launch production in India. Musk is expected to reveal significant investment plans in India in the near future.
Just last month, India slashed the import tax on electric vehicles for international automakers that commit to investing $500 million or more and setting up local production within three years. And earlier in 2021, Musk said India's high import duties were preventing Tesla from introducing its cars in the world's fastest-growing major economy.
The announcement of Tesla's investment during the election will enhance Modi's reputation as a pro-business leader who encourages foreign companies to set up manufacturing facilities in India and create jobs.
