The best stories of the day, in your inbox

Elon Musk India Visit: To Discuss EV Plan with PM Modi

elon musk

In a highly anticipated development, Elon Musk, the visionary entrepreneur behind Tesla, is all set to visit India and meet with Prime Minister Narendra Modi. The purpose of this visit? To unveil a much-awaited plan for manufacturing Tesla electric cars within the country.

Addressing Challenges in the Indian Market

Musk’s visit comes at a crucial time for Tesla. The company has faced challenges in the Indian market, including a decline in stock prices and sluggish sales. By announcing a concrete plan for local production, Musk aims to address these concerns and boost investor confidence.

A Signal of Success

The fact that Musk is choosing to meet with PM Modi signals the Indian government’s success in attracting marquee investors. After successfully luring Apple’s vendors away from China, India is now poised to become a major investment destination for Tesla. The government’s recently announced EV policy for new entrants, which offers import duty concessions to companies investing $500 million or more in local manufacturing, further solidifies this opportunity.

Elon Musk’s Ambitious Project

So, what can we expect from Tesla’s India venture? Here are the key highlights:

  1. Investment: Tesla is likely to commit a substantial investment of $2-3 billion to set up a manufacturing facility in India. The factory will produce entry-level electric cars, with an estimated price of around Rs 25 lakh.
  2. Capacity: Tesla aims to produce five lakh units annually, fulfilling Musk’s vision of making affordable electric vehicles accessible to a wide audience.
  3. Market Impact: An aggressively priced electric car in a growing market like India could be a game-changer. It will not only quell investor discontent but also help reverse the sales decline.

Election Season Timing

Musk’s visit coincides with the peak election season in India. His announcement is eagerly awaited, and it could have significant implications for the Indian automotive industry. All eyes are on this groundbreaking development as India prepares to embrace the electric revolution.

Stay tuned for more updates as Elon Musk and PM Modi chart a new course for sustainable mobility in India! 🚗🔌

Filmmaker Payal Kapadia has scripted history by becoming the first Indian

YouTube Music has just rolled out an exciting new feature

A devastating fire broke out at the New Born Baby Care

A devastating fire at the TRP amusement and theme park’s

Kabosu, the Shiba Inu that became a global sensation as

Exactly two years after the tragic Uvalde school massacre, families

Port Moresby, Papua New Guinea: A devastating landslide in Papua New

In a significant development, Bibhav Kumar, the main accused in

The West Bengal Criminal Investigation Department (CID) has made a

In a significant development for Tamil Nadu’s ambitions of becoming

China’s People’s Liberation Army (PLA) has initiated large-scale military exercises

Activision has officially announced the highly anticipated Call of Duty: Black Ops

Bollywood superstar Shah Rukh Khan has been discharged from Ahmedabad’s

The Indian Meteorological Department (IMD) has issued warnings for Cyclone

At least seven people lost their lives, and 48 others

Singapore Airlines Flight SQ321, en route from London to Singapore,

Microsoft has just unveiled its latest innovation in the PC

In a significant development, the High Court of the United Kingdom has

Indian students studying medicine in Kyrgyzstan’s capital city, Bishkek, find

Two people tragically lost their lives in a horrific accident

In a high-stakes clash during the IPL 2024, Chennai Super

Rockstar Games, the renowned developer behind the Grand Theft Auto

Prafulla Dhariwal, an Indian computer scientist, has emerged as the

In a move to revitalize its tourism industry, China has

Get daily updates in your inbox. Subscribe to our newsletter.