Elon Musk To Meet India’s Modi Over Import Deal

Tesla chief executive Elon Musk is planning to meet India prime minister Narendra Modi later this month, after the country conditionally lowered its import taxes for electric vehicles.

The meeting is to take place next week or the following week, multiple news outlets reported.

Musk appeared to confirm the reports with a post on his social media platform X, formerly Twitter: “Looking forward to meeting with Prime Minister Narendra Modi in India!”

Tesla has been in negotiations with the Indian government for several years as it looks for a way to tap into the world’s fastest-growing major economy.

EV imports

The country in March lowered its EV import taxes to 15 percent from 100 percent for companies that commit to investing $500 million (£402m) and to beginning domestic manufacturing within three years, a move it was reportedly considering at least as far back as August of last year.

The move was announced as India enters a lengthy six weeks of elections beginning on 19 April, with Modi expected to win a rare third term.

Musk last met with Modi last June in New York during a state visit by the Indian prime minister amidst ongoing lobbying efforts.

Tesla officials are reportedly planning to visit India this month to look at sites for a manufacturing plant that could cost $2bn.

Election year

The company has reportedly already begun producing right-hand drive cars at its Germany plant for export to India later this year.

Modi has espoused business-friendly policies including convincing foreign companies to set up manufacturing in India.

In April of last year Apple opened its first store in the country after meeting a list of government requirements, including sourcing more of its raw materials domestically.

The company has also been expanding its iPhone production in India, doubling it in the space of a year to 14 percent as it seeks to diversify its supply chain away from China, Bloomberg reported.