News Brief
Tesla CEO Elon Musk Likely To Announce India Investment Plans During His Meeting With Prime Minister Modi
Tesla's Elon Musk with Prime Minister Narendra Modi (X)
Elon Musk on Wednesday (10 April) confirmed that he will be visiting India.
In a post on X, Musk said that he is looking forward to meet Prime Minister Narendra Modi.
"Looking forward to meeting with Prime Minister @NarendraModi in India!" Musk wrote.
The Tesla CEO is likely to announce the company's investment plans in the country, news agency PTI reported citing sources.
Musk, who has described Tesla's entry into India as a 'natural progression', is likely to be accompanied by other company executives during the visit that is expected in third week of April.
Earlier in April, Financial Times had reported that Tesla is set to send a team to India this month to explore potential locations for a proposed electric car plant to be build with an estimated investment of $2 billion to $3 billion.
Tesla will send team from the US by late April to study sites for the plant, focusing on states with existing automotive hubs, including Maharashtra and Gujarat in the west and Tamil Nadu in the south.
There are also plans about potential sites near New Delhi in Haryana, although the primary focus appears to be on states with port access for easier car exports.
A confirmed investment by Tesla would be a significant boost for Prime Minister Narendra Modi's administration, particularly as the country heads into a general election this month.
PM Modi had urged Tesla CEO Elon Musk to consider investing in India during their meeting in the United States last year, where Musk had expressed intentions of entering the Indian market "as soon as possible".
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