'Looking forward to meeting with PM Modi': Elon Musk confirms India visit
Tesla CEO Elon Musk on Wednesday confirmed his visit to India in a post on X (formerly Twitter).
Musk wrote, «Looking forward to meeting with Prime Minister @NarendraModi in India!» The CEO is likely to announce the company's investment plans in the country, reported PTI, citing sources.
Musk, who has described as a 'natural progression' to provide Tesla electric vehicles in India, is likely to be accompanied by other company executives during the visit that is expected in the week of April 22, as per PTI source. However, there was no confirmation about this from Musk.
In June last year, Musk met with Modi during the latter's US visit and stated that he planned to visit India in 2024 while expressing confidence that Tesla would enter the Indian market soon.
His upcoming visit to India comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla.
As per the policy, the companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs /import duty of 15 per cent on vehicles costing USD 35,000 and above for a period of five years from the date of issuance of the approval letter by the government.
At present, cars imported as completely built units (CBUs) attract customs duty ranging from 70 per cent to 100 per
