Elon Musk is scheduled to meet with Prime Minister Narendra Modi in April, with an expected announcement concerning investment ventures in India. According to sources familiar with the matter, Tesla’s CEO, Elon Musk, will visit India this month to engage in discussions with PM Modi. It is anticipated that during these discussions, Musk will unveil plans for investing in the country and establishing a new factory. Reuters has reported on this upcoming visit, suggesting that the meeting between Musk and PM Modi will occur in the final week of April in New Delhi.
Insiders, who chose to remain unnamed, have revealed to Reuters that Musk will independently share his strategies for India. Previous reports have hinted that Tesla representatives will be surveying potential locations for a manufacturing facility during this month’s visit, with projected investments totalling approximately $2 billion.
There are indications that Tesla may be exploring local partnerships to facilitate its operations in India. A report from The Hindu Business Line has suggested that Tesla might be in discussions with Reliance Industries about a possible joint venture to build a manufacturing plant in India. These discussions are reportedly in the early stages, and the extent of Reliance Industries’ involvement is yet to be determined. However, it is expected that the conglomerate could play a significant role in establishing both the manufacturing facility and the accompanying ecosystem for Tesla in India.
As for Tesla’s plans in India, the company has allocated $2 billion for its upcoming projects and is evaluating various locations for the plant’s establishment. Maharashtra could emerge as the preferred site, given Tesla’s intention to utilize the facility for both domestic and export purposes, potentially leveraging the proximity to port facilities.
