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Published: June 21, 2023
Updated: June 21, 2023

"Elon Musk Assures India of Tesla's Imminent Arrival, Plans Visit in 2024"

Elon describes meeting with Modi as fruitful and excellent

Elon Musk, the CEO of Tesla, has expressed his optimism about the company's expansion into the Indian market after a fruitful meeting with Prime Minister Narendra Modi. The meeting, which took place at Lotte New York Palace in New York, was described by Musk as "excellent" and resulted in a positive conversation regarding Tesla's plans for India. Musk further revealed his intention to visit India in the coming year.

Tesla would show its presence as soon as humanly possible

In a statement to the media, Musk conveyed his confidence in Tesla's imminent presence in India, stating that the company would make it happen "as soon as humanly possible." This announcement comes after Tesla's previous decision to delay its entry into the Indian market due to high import tax structures. However, recent talks with Indian officials regarding the establishment of a manufacturing base have reignited Tesla's interest in India.

Exploring the feasibility of setting Tesla's new plant in India

Musk had previously mentioned that Tesla would likely select a location for a new factory by the end of this year, with India being considered an attractive option. The renewed discussions with Indian officials have provided an opportunity for Tesla to explore the feasibility of setting up a manufacturing plant in the country, fulfilling India's long-standing desire to host the electric vehicle company.

Notably, the news of Rivian adopting Tesla's electric vehicle charging standard has also contributed to a positive market response. Following the initial Reuters report on this development, Tesla's shares witnessed a 4% increase, reflecting the growing enthusiasm and anticipation surrounding the company's potential expansion into India.

Elon Musk's meeting with Prime Minister Narendra Modi has instilled hope in India for Tesla's presence in the country. With Musk's assurance of a forthcoming visit in 2024 and his confidence in establishing Tesla's operations in India, it seems that the long-awaited entry of the renowned electric vehicle manufacturer into the Indian market may soon become a reality. The potential manufacturing base and the adoption of Tesla's charging standard by Rivian further strengthen the prospects for Tesla's successful entry and growth in India's rapidly expanding electric vehicle sector.