Elon Musk India Visit: Elon Musk will visit India: Gujarat can get Tesla's gift: Musk said - 'Eager to meet PM Modi'
Tesla Plant In Gujarat: Elon Musk is visiting India. He will meet with PM Narendra Modi. Elon Musk may announce the establishment of a Tesla plant in Gujarat. A big investment in EVs may be announced in India.
Elon Musk India Gujarat Visit: Tesla chief Elon Musk is coming to visit India this month to meet Prime Minister Narendra Modi (Elon Musk PM Modi Meeting), a big gift for Tesla India can be found in Gujarat. Elon Musk is expected to announce his investment plans in India.
Elon Musk will visit India
As Elon Musk confirmed his visit to India, the billionaire executive said on social media platform X that he is looking forward to meeting PM Modi.
According to a Reuters report, Musk is expected to announce his plans to invest in the country and open new factories during his visit.
The billionaire will meet Modi in New Delhi on April 22 and make a separate announcement about his plans for India, the report quoted two sources as saying. Other executives will also accompany the Tesla CEO during his visit.
Earlier Musk said on X this week, “India should have a Tesla electric car like every country has an electric car. "Making Tesla electric vehicles available in India is a natural progression."
Tesla is eyeing India amid sluggish demand for EVs in the US and Chinese markets and growing competition from Chinese automakers. Tesla reported a decline in first-quarter deliveries that missed analysts' estimates.
India's EV market is small but growing and is dominated by local carmaker Tata Motors. EVs will account for only 2% of total car sales in 2023. But the government has set a target of 30 percent by 2030. The demand for electric vehicles is increasing rapidly in the country. Then the good news came for India that Tesla is going to enter India, Tesla company can set up a plant in Gujarat.
Tesla to set up plant in Gujarat India (Elon Musk EV Plant in Gujarat India)
There is talk that in the next few years, the company will set up a plant in Gujarat and may run Tesla electric vehicles on Indian roads. A few days ago, Tesla announced a 2 billion US dollar investment in India.
Earlier it was hoped that Elon Musk would attend the Gujarat Vibrant Summit 2024, and announce Tesla India's presence in Jarat, but Elon Musk could not attend the Gujarat Summit. But now that Elon Musk is visiting India, the hope of Tesla India setting up a plant in Gujarat has come alive again.
India is one of the largest auto markets in the world. Tesla has been trying to enter India for a long time and the Indian government is also ready to give it all possible help. Tesla will set up its plant here through the CBU route. Import tax can also be reduced. It is believed that Tesla can launch vehicles in India at cheaper and cheaper prices.
Where can Tesla set up a plant in Gujarat?
Let us tell you that the state government has suggested several places including Sanand, Dholera, and Becharaji as possible locations for the Tesla plant. The move is in line with Tesla's aim to meet both domestic and international demand, including exports from its Indian manufacturing base. The government's official stance is that there will be no subsidy on EV imports. However recent reports indicate that Tesla may be given a concessional import duty of 15-20 percent.
Production in China and sales in India are not possible, welcome to Tesla if it manufactures in India
Notably, during a December 2023 event at IIM Nagpur, Gadkari also spoke about the ongoing discussions between the Modi government and Elon Musk-led Tesla, the world's largest EV maker. He said that the company might open a factory in India. He said, we welcome Tesla. But manufacturing in China and selling in India, this is not possible. We are open for them to produce here.
