Elon Musk Excited About Meeting PM Modi During India Visit

Elon Musk Excited About Meeting PM Modi During India Visit: Tesla chief Elon Musk confirms he's going to India and looks forward to meeting Prime Minister Narendra Modi.

Musk posted on his microblogging platform, which he owns, "Looking forward to meeting @NarendraModi in India!" on Wednesday.

Although Tesla's CEO didn't say when the visit would happen, he did say he's looking forward to it.

Looking forward to meeting with Prime Minister @NarendraModi in India!

— Elon Musk (@elonmusk) April 10, 2024

Reuters reports the billionaire will visit India later this month to announce plans to invest and open a factory.

Musk, who is also the founder of SpaceX, met PM Modi in June last year and described himself as a "fan". "Tesla will be in India as soon as possible," the Tesla CEO said.

India announced less than a month ago that it would cut taxes on a certain number of electric vehicles by up to 85 percent in an attempt to "attract investments by global manufacturers."

It will allow companies that set up factories to manufacture electric passenger cars to import a limited number of vehicles at a 15 percent reduction in customs or import duties for a period of five years on vehicles priced at a minimum of $35,000 (approximately 29 lakh).

Reuters reported earlier that Tesla officials will visit India in April to scout sites for a $2 billion manufacturing plant.

In addition, 50% domestic value addition must be achieved within five years, according to the localization clause.

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