Tesla CEO Elon Musk recently held a crucial meeting with Indian Prime Minister Narendra Modi on June 20, 2023, in New York City. During the discussion, Musk expressed Tesla’s keen interest in investing in India and its confidence in setting up a manufacturing plant within the country.
Previous setbacks due to high import duties had caused Tesla to shelve its plans to enter the Indian market. However, with the Indian government’s recent efforts to attract foreign automakers, the scenario has started to change. In a promising move, the government announced a reduction in import duties on electric vehicles in April 2023.
While the exact timeline for Tesla’s manufacturing plant in India remains uncertain, Musk’s meeting with Modi signifies the company’s seriousness and commitment towards investing in the country. The hour-long meeting covered various topics, including Tesla’s investment plans and the potential of India’s electric vehicle market. Additionally, Musk engaged with Indian business leaders during his visit to New York City and PM modi Meets Elon Musk.
Read – “I’m A Fan Of Modi”: Top Quotes Of Elon Musk After Meeting PM
This meeting holds significant importance in Tesla’s aspirations to enter the Indian market. Tesla’s intentions to invest in India align with the government’s efforts to facilitate foreign investments.
It is still too early to say when Tesla will be able to set up a manufacturing plant in India, but the meeting with Modi is a positive sign that the company is serious about investing in the country.
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