News Brief
Tesla CEO Elon Musk's Visit To India Postponed: Report
SpaceX CEO Elon Musk speaks at the International Astronautical Congress in Adelaide, Australia. (Mark Brake/Getty Images)
Tesla CEO Elon Musk's much-anticipated visit to India, initially scheduled for 21 and 22 April, has been postponed, according to multiple reports.
Musk's visit was highly anticipated as he was set to meet with Prime Minister Narendra Modi and announce Tesla's plans to enter the Indian market.
However, the reasons behind the postponement remain undisclosed.
Sources suggested that the timing of Musk's crucial conference call on 23 April in the United States, addressing Tesla's first-quarter performance, may have influenced the decision to delay the India trip.
The visit was expected to coincide with the Indian government's recent notification of a new electric vehicle manufacturing policy.
Also Read: New Delhi Begins Consultations On New EV Policy With Global Auto Giants As Elon Musk's Visit Looms
This policy aimed to incentivize electric car companies committing to manufacturing in India by offering duty concessions.
Notably, India currently imposes high import duties on cars imported as completely built units (CBU).
While Musk's visit was anticipated to include discussions on a potential investment of $2-3 billion in India, mainly for establishing a manufacturing facility, there were also speculations regarding the Starlink agreement during this visit.
Elon Musk had met PM Modi during the latter's visit to the United States in June last year.
The Tesla chief had discussed with PM Modi about his plans to visit India in 2024 and Tesla's plan to enter the Indian market and setting up the much-anticipated factory.
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