Elon Musk, the billionaire behind Tesla and SpaceX, was supposed to visit India soon, but he had to postpone his trip because of important Tesla duties. He mentioned on social media that he’s looking forward to visiting later this year. “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk wrote on X in response to a post, which stated that his India visit planned for April 21-22 has been postponed as the reason could be that he needs to attend Tesla’s earnings call on April 23.
Expectations were high for Musk’s visit, with anticipation that he would unveil plans for Tesla to establish operations in India, alongside his satellite internet project, Starlink. There were also hopes for announcements regarding Tesla’s manufacturing unit in India, potentially involving substantial investments, and strategies for introducing Tesla electric cars to the Indian market. Additionally, Musk had his sights set on the Indian market for his Starlink satellite internet business, pending regulatory approvals.
India recently announced a new electric vehicle (EV) policy to attract global players like Tesla, offering import duty concessions to companies investing at least USD 500 million in manufacturing facilities. A stakeholder meeting was held to discuss the guidelines for this policy, attended by representatives from Tesla, along with other major automotive companies.
Under the new policy, companies setting up EV manufacturing facilities can import a limited number of vehicles at lower customs duty rates for five years. This move aims to promote India as a manufacturing hub for EVs and attract investment from renowned global manufacturers.
Tesla has been pushing for reduced import duties in India to sell its vehicles there. However, Musk stated that Tesla wouldn’t manufacture its products in India unless it’s allowed to sell and service its cars in the country first. He expressed interest in setting up a manufacturing unit in India if Tesla’s imported vehicles were successful.
Aside from Tesla, Musk has been working to bring Starlink, his satellite internet venture, to India. Starlink faced controversy in 2021 due to pre-orders being taken without proper licensing. Starlink later applied for a license, which is currently under government review.
