Tesla CEO Elon Musk who was scheduled to visit India on April 21 and 22 has postponed his visit. As per reports, it was a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market.Tesla chief Elon Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, three people familiar with the matter said, reports Reuters— ANI (@ANI) April 20, 2024Taking it to his social media handle, Musk tweeted, “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year.”Tesla chief Elon Musk tweets, Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year. pic.twitter.com/zSP4cYBHcW— ANI (@ANI) April 20, 2024As per the tweet, due to Teslas obligations, he has delayed the scheduled visit to India. Sources have claimed that Musks crucial visit has been canceled as he is likely to visit for a conference call on April 23 in the United States to answer questions about Teslas first-quarter performance.Taking it to his social media handle, Musk on April 10, that he was looking forward to meeting PM Modi. But just a few weeks before the planned visit, the Indian government had notified a new electric vehicle manufacturing policy allowing the government to give duty concessions to electric car companies committing to Make in India.Meanwhile, it is worth noting that India has the highest import taxes on automobiles among the worlds major nations. Completely Built Units (CBUs) are currently subject to customs duties ranging from 70% to 100%, depending on the engine size and the value of the cars cost, insurance, and freight (CIF). It is also said that Musk was expected to outline a plan for a 20–30-billion-dollar investment in India. There was a potential, nevertheless, that this visit would not result in the Starlink agreement. But in June, last year, when Tesla CEO met PM Modi, he said that he would visit Indian in 2024 and expressed confidently that it will soon enter the Indian market.The development came after the Indian government announced the EV scheme, which aims to position India as a preferred manufacturing destination for EVs equipped with advanced technology, several key objectives have been outlined. The EV scheme includes attracting investments from global EV manufacturers, promoting the adoption of advanced EV technology among Indian consumers, and bolstering the countrys Make in India initiative. Moreover, it is anticipated that Teslas entry into the Indian market will help boost the countrys economy and environment.
