Tesla advisor participates in EV policy meeting ahead of Elon Musk's India trip: Report
Upstox
2 min read • Updated: April 19, 2024, 9:27 AM
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.
Ahead of billionaire Elon Musk's visit to India, a Tesla advisor attended a stakeholders' meeting on India's new Electric Vehicles (EV) policy on Thursday, sources privy to the development told news agency PTI.
"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.
During the meeting, officials from the Heavy Industries Ministry presented a new policy on EVs. Most of the participants were trying to get a deeper understanding of the policy. "It was more of consultation rather than committing to investments in the future," the official told PTI.
Elon Musk to visit India
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.
Recently, Starlink, Musk's satellite communication venture, reportedly received an in-principle nod from the Indian government. The in-principle nod, which brings the company closer to getting an operating licence, was issued by the Department of Telecommunications, the Times of India report said, citing sources.