Elon Musk's eagerly anticipated visit to India, aimed at announcing Tesla's plans to enter the Indian market and meet with Prime Minister Narendra Modi, has been postponed, as reported by CNBC-TV18. Initially scheduled for April 21 and 22, the exact reasons behind the postponement remain unclear.
There are indications that the rescheduling might be attributed to a clash between Musk's planned visit and his scheduled call with investors and analysts regarding Tesla's earnings on April 23. Consequently, the new dates for his India visit are yet to be announced.
During his now-cancelled trip, Musk was reportedly set to unveil an investment of $2-$3 billion in India, primarily for establishing a new factory. Additionally, he was scheduled to engage with Indian startups and space companies.
Musk's decision to visit India had sparked considerable anticipation, particularly following his tweet on April 10 expressing excitement about meeting PM Modi. The Indian government had subsequently released a notification outlining a new electric vehicle manufacturing policy, signaling its commitment to attracting foreign EV brands by offering duty concessions to companies committed to manufacturing in India.
This development aligns with Musk's previous announcement last year, where he indicated Tesla's intention to make a significant investment in India. As the global push toward sustainable mobility gains momentum, India's burgeoning electric vehicle market presents a lucrative opportunity for Tesla and other foreign players.