Elon Musk has introduced on his social media platform X, previously Twitter, that he’ll go to India to satisfy Prime Minister Narendra Modi with out giving a date.

The Tesla boss is predicted to announce main funding plans within the nation quickly.

Last month, India minimize import taxes on electrical autos (EV) for international carmakers which decide to investing $500m (£399m) and beginning native manufacturing inside three years.

In 2021, the Tesla boss stated that India’s excessive import duties had prevented the agency from launching its vehicles on this planet’s fastest-growing main economic system.

A senior Indian authorities official advised the BBC that the assembly is scheduled for the final week of April and can happen at Mr Modi’s official residence in New Delhi.

The BBC understands that Tesla’s plans for beginning manufacturing in India will characteristic within the talks.

Tesla didn’t instantly reply to a BBC request for remark.

Mr Musk’s go to comes simply because the nation begins voting in marathon, six-week-long elections on 19 April.

Mr Modi’s Hindu-nationalist Bharatiya Janata Party (BJP) is extensively anticipated to win a 3rd time period in energy.

A Tesla funding announcement in the course of the election would bolster the business-friendly credentials of Mr Modi, who has courted overseas corporations to arrange manufacturing operations in India and create jobs.

The two males met final June in New York when the expertise multi-billionaire stated Mr Modi had been “pushing us to make significant investments in India, which is something that we intend to do”.

Tesla’s plans to maneuver into India comes at a time when the corporate is battling weakening gross sales within the US and China.

Tesla has minimize costs repeatedly in response to elevated competitors from rivals corresponding to BYD however demand in key markets like China has fallen.

Tesla’s shares have misplaced virtually a 3rd of their worth for the reason that begin of this 12 months.