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Tuesday May 21, 2024

Why did Elon Musk postpone India visit?

Space X CEO announces to visit India later this year

By Web Desk
April 20, 2024
Tesla CEO postpones India trip due to obligations. — CNBC/File
Tesla CEO postpones India trip due to obligations. — CNBC/File

Tesla founder Elon Musk has announced to postpone his trip to India, where he was scheduled to meet Prime Minister Narendra Modi, the Times of India reported, citing his post on social media platform X, formerly Twitter.

The hype around his trip had been going on for a few days, as the billionaire was expected to announce the much-awaited plan to produce Tesla electric cars in the country.

Musk announces on X, his postponement of trip to India. — Screengrab from X/@elonmusk
Musk announces on X, his postponement of trip to India. — Screengrab from X/@elonmusk

The trip was originally scheduled for April 21 and 22, but has now been delayed to a date later this year, which hasn’t been made public yet.

During his two-day trip to India, he was scheduled to meet Modi, several executives from different space-related start-ups, and was expected to announce at least a $2 to $3 billion investment, as he reportedly plans to set up a factory to manufacture entry-level electric cars speculated to be Model 2.

News regarding Musk's visit to India came weeks after the Modi government announced a new policy regarding electric vehicles under which import duty concessions were to be given to companies that planned on setting up manufacturing units in the country with a minimum investment of $500 million.