Tesla CEO Elon Musk expressed his interest in investing in India as soon as possible after meeting with Indian Prime Minister Narendra Modi in New York. Musk says,“[Modi] really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do. We are just trying to figure out the right timing.” Musk did not provide a specific timeline but mentioned that he plans to visit India next year.
Tesla’s entry into the Indian market has been in the works for some time. In 2017, Musk had announced plans to sell cars in India, but the implementation was delayed due to negotiations with the local government regarding import duties. Musk highlighted that India has the highest import duties in the world for a large country. The Indian government has suggested that Tesla should produce cars locally before considering tax breaks.
Musk described his meeting with Modi as fantastic and expressed his excitement about India’s future. He acknowledged Modi’s desire to do what is best for India.
Elon Musk said,“[Modi] really wants to do the right thing for India. He wants to be open, he wants to be supportive to the companies. And obviously, at the same time, make sure that it accrues to India’s advantage.”
Overall, Elon Musk’s meeting with Narendra Modi has further fueled Tesla’s interest in investing in India, and they are actively exploring opportunities to expand tesla presence in India.
