From Meeting PM Modi To Big Announcement On Starlink: Check Elon Musk's Likely Itinerary For His 48-Hour India Visit
Date
4/12/2024 2:02:21 PM
(MENAFN- Live Mint) "Tesla and SpaceX CEO Elon Musk has confirmed that he will be visiting India soon and meet with Prime Minister Narendra Modi. However, a recent report by CNBC-TV18 has revealed details about the billionaire's itinerary during his India trip to the report, Musk's visit to India will begin on April 21. The billionaire will be in the country for 48 hours. During the visit, Musk is likely to make many high-profile announcements, including plans to launch the Starlink service and investment plans of around $2 billion to $3 billion in the country from a meeting with Prime Minister Narendra Modi, Musk is also expected to meet top government officials and industry representatives. Musk and Modi last met during the Indian prime minister's visit to the US in June last year, and the billionaire has since been seeking a reduction in import duties on electric vehicles to allow Tesla to start selling its EVs in the country.
The Indian government finally relented last month, announcing a new EV policy that reduces import taxes on some models from 100% to 15% if the manufacturer commits to investing $500 million or more, and sets up a factory in the country to a CNBC TV 18 report, Musk's Tesla doesn't just want to manufacture cars in India, but also export them to the global market. A recent report by the Hindu Business Line had stated that Tesla is in talks with Mukesh Ambani-led Reliance Industries for a possible joint venture to set up a manufacturing facility in India.
RIL and Tesla have reportedly been in talks for over a month, and RIL could potentially help create capacity for Tesla's Indian EVs, Musk had said in a post on X (formerly Twitter) that India should have electric cars like any other country and it's a 'natural progression' for Tesla to start selling EVs in the country.
MENAFN12042024007365015876ID1108088444
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.