Tesla Inc. is likely to make a significant investment in India, Chief Executive Officer Elon Musk said after meeting with Narendra Modi during the Indian Prime Minister’s US visit to promote development in the world’s most populous country.
“I’m confident that Tesla will be in India and we’ll do so as soon as humanly possible,” Musk told reporters after the meeting. “We don’t want to jump the gun on an announcement, but I think it’s quite likely that there will be a significant investment, a relationship with India.”
Tesla and India revived discussions in May following a year-long stand-off. While Tesla executives talked about the domestic sourcing of parts and incentives with government officials during a recent India visit, it didn’t culminate in a proposal to set up a plant.
Musk, who has been the frequent target of pitches from Indian officials to make electric cars locally, said he plans to visit the South Asian country in 2024.
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