Photo: Elon Musk
Tesla CEO Elon Musk is scheduled to visit New Delhi, India, in the week of April 22 for a meeting with Prime Minister Narendra Modi.
The agenda for the high-profile meeting includes discussions on potential investments and the possibility of setting up a Tesla manufacturing facility in India. This initiative is part of Tesla’s strategy to broaden its global footprint, with India seen as a critical market for the company’s future expansion efforts.
Musk, expressing his anticipation for the visit, shared his enthusiasm on X today, saying, “Looking forward to meeting with Prime Minister @NarendraModi in India!”.
He previously emphasized India’s need for electric vehicles, stating, “India should have electric cars like every other country has electric cars. It’s a natural progression to provide Tesla electric vehicles in India.”
According to two sources speaking to Reuters, Musk is expected to announce plans for investment and the establishment of a factory during his visit. The Tesla CEO, said to be accompanied by a team of executives, aims to discuss the company’s expansion into the Indian market.
The timing of Musk’s visit coincides with the commencement of India’s two-month-long election process, starting April 19, where Prime Minister Modi is anticipated to secure a third term. An investment announcement from Tesla during this period could significantly enhance Modi’s image as a pro-business leader, aligning with his longstanding efforts to attract foreign companies to India to boost manufacturing and job creation.
It was previously rumored Tesla was seeking a new plant investment in India worth possibly $3 billion.
Tesla’s interest in the Indian market comes ahead of its Q1 2024 earnings release, scheduled for Tuesday, April 23, highlighting the strategic importance of this visit in the context of Tesla’s global expansion and investment plans.
