Business News
2 min read | Updated on April 19, 2024, 09:27 IST
SUMMARY
Tesla founder Elon Musk, who will arrive in India on April 21, is expected to declare major investment plans in the country. He will also meet Prime Minister Narendra Modi. Last month, India reduced import duty to 15% from 70-100% for EVs imported as completely built unit (CBU), provided the carmakers commit to invest ₹4,150 crore and start local production within three years.
Tesla founder Elon Musk to arrive in India on April 21
"It was a stakeholder consultation meeting seeking inputs for the guidelines to be framed for the new EV manufacturing policy. Tesla was represented by its advisor, The Asia Group (TAG). Vietnam's electric vehicle manufacturer VinFast was also present in the meeting," a senior official was quoted as saying.
The meeting was attended by major car makers like Mercedes-Benz, BMW, Audi, Maruti Suzuki, Tata, Hyundai, Skoda Auto Volkswagen India, Kia and Renault.
Tesla founder Elon Musk, who will arrive in India on April 21, is expected to declare major investment plans in the country. He will also meet Prime Minister Narendra Modi.
"Looking forward to meeting with Prime Minister Narendra Modi in India!" he had said in a tweet.
Last month, India reduced import duty to 15% from 70% to 100% for EVs imported as completely built unit (CBU), provided the carmakers commit to invest ₹4,150 crore and start local production within three years.
In 2021, Musk had blamed high import duties for not launching Tesla cars in the country.
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