[ad_1]
Tesla and SpaceX CEO Elon Musk has already confirmed that he will soon be visiting India and also meet with Prime Minister Narendra Modi. However, now a recent report by CNBC-TV18 has shared more details about the billionaire’s itinerary during his visit to India.
The report states that Musk will be in India only for a duration of 48 hours and will likely make many high-voltage announcements including plans for setting up Starlink service and investment plans of around $2-3 billion in the country. Apart from a meeting with Prime Minister Narendra Modi, Musk will also reportedly meet with other government officials and industry representatives.
Musk and Modi had last met each other during the Indian Prime Minister’s US visit last year in June and the billionaire had since then been seeking a lowering of import duty on electric vehicles in order to allow Tesla to start selling its EVs in the country. The Indian government finally gave in last month and announced a new EV policy that reduced the import taxes from 100% to 15% on some models if the manufacturer commits to investing a sum of $500 million or more and setting up a factory in the country.
The CNBC TV 18 report stated that Musk’s Tesla isn’t just looking to manufacture cars in India but also export these vehicles to the global market.
Recently in a post on X (formerly Twitter), Musk had said that India should have electric cars like any other country and it’s a ‘natural progresssion’ for Tesla to start selling EVs in the country.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 12 Apr 2024, 03:15 PM IST
[ad_2]
Source link