Elon Musk is set to visit India on April 21, and have his meeting with PM Narendra Modi on April 22, following which the tech mogul might have some major announcements for Tesla and Starlink’s operations in India.
Tesla’s much-anticipated entry into the Indian market is expected to be announced on April 22 following a meeting between Prime Minister Narendra Modi and Tesla CEO Elon Musk, according to a report by Moneycontrol, which quoted an anonymous senior government official in its report.
As for Starlink, latest reports suggest that the DoT has given a nod in principle to Starlink and is expediting the process to have all required licenses and clearances ready, before Musk’s arrival in India, provided the Home Ministry is satisfied with SpaceX’s responses as to how it plans to deal with security issues.
While specifics are unlikely to be disclosed, the official hinted at a general announcement of Tesla’s presence in India, rather than an announcement of where they will be setting up their factory.
Typically, Tesla requires board approval for selecting the site of its factory, which, considering Musk’s visit and its agenda, will only be possible at a later stage. For now, Musk is anticipated to address the media and the people of India and talk about the country’s EV policy. Musk is also expected to speak to a few investors and technical partners during his two-day visit to India.
Musk confirmed his visit to India via a post on his microblogging platform,X, expressing that he was looking forward to his meeting with Prime Minister Modi.
Musk’s visit coincides with the ongoing general elections in India, where PM Modi’s Bharatiya Janata Party is expected to secure a third term, comfortably.
Tesla is considering India as a potential manufacturing hub for its electric vehicles (EVs), with plans to introduce a low-cost variant priced between Rs 20-25 lakh.
Additionally, Tesla may also explore manufacturing its premium cars in India, at a more affordable price point. The company has already initiated production of right-hand drive cars at its plant in Germany which will be exported to India later this year.
Moneycontrol’s report also revealed that Tesla’s investment in building low-cost vehicles in India could lead to exports to other South and Southeast Asian countries, as well as Africa. This move would not only cater to the domestic market but also bolster Tesla’s presence in global markets.
Tesla’s interest in India comes amid a slowdown in EV demand in its primary markets of the US and China, coupled with heightened competition from Chinese automakers.
The prospect of Tesla’s investment in India has sparked a global interest with the US, EU and China taking note. Domestically, an official announcement regarding Tesla’s plans in the country could boost Prime Minister Modi’s image as a business-friendly leader seeking to secure a rare third term.
Musk’s visit to India coincides with a pivotal moment for the country’s technology and electronics landscape. India has recently enacted new data protection and telecom laws, signalling a shift in regulatory frameworks.
Additionally, the government has greenlit several semiconductor investment proposals, aiming to bolster India’s self-reliance in this critical sector. This convergence of events underscores the significance of Musk’s visit and highlights India’s efforts to strengthen its technological capabilities and infrastructure.
(With inputs from agencies)
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Tesla, Starlink announcement soon: Elon Musk to land in India on April 21, meet PM Modi on April 22
