Musk delays India visit, Tesla entry plans on hold
The visit was planned to include a crucial meeting between Musk and Prime Minister Narendra Modi.
Elon Musk’s highly anticipated visit to India, scheduled for April 21st and 22nd, has been postponed. This news comes as a disappointment to many who were eager to hear about Tesla’s official entry into the Indian market.
The visit was planned to include a crucial meeting between Musk and Prime Minister Narendra Modi. Discussions were expected to center around Tesla’s India plans, including potential investments in a manufacturing facility. The timing of this postponement coincides with a critical conference call Musk is scheduled to have in the United States on April 23rd, where he will address Tesla’s first-quarter performance.
This news comes alongside the recent announcement of India’s new electric vehicle (EV) manufacturing policy. This policy aims to attract electric car companies to set up manufacturing units in India by offering significant import duty concessions. Currently, India imposes hefty import taxes on cars brought in as completely built units (CBU). Analysts believe Musk’s visit might have included discussions on leveraging this new policy to establish a Tesla manufacturing plant in India.
Speculations also surrounded the potential finalization of an agreement for Starlink, Musk’s satellite internet company, during the visit.
The postponement comes despite positive developments during Prime Minister Modi’s visit to the United States last June. During their meeting, Musk expressed plans to visit India in 2024 and establish a Tesla presence in the country.
While the exact reasons for the delay remain undisclosed, it is clear that both Tesla and the Indian government remain interested in pursuing a collaborative future in the electric vehicle market. We can expect further developments and a rescheduled visit later this year, with the hope of solidifying Tesla’s entry strategy for the Indian market.
