• Saturday, May 18, 2024

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Musk postpones India visit, says ‘very heavy Tesla obligations’

The entrepreneur was likely to make an announcement for investments in India during his high-profile visit.

Indian prime minister Narendra Modi meets Tesla CEO Elon Musk in New York, US, on Tuesday, June 20, 2023. (Picture: Twitter account of Modi/@NarendraModi)

By: Shubham Ghosh

TESLA chief Elon Musk said on Saturday (20) that he postponed his planned visit to India owing to “very heavy Tesla obligations”. His much anticipated visit was expected to begin on Sunday (21) and some top investment plans for his businesses in India could be announced. A meeting between Tesla and prime minister Narendra Modi was also on the cards.

Musk, one of the world’s richest men, confirmed on X, which he also owns, about his trip getting delayed. He also said that he looks forward to visiting India next 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,” he said.

Last week, the entrepreneur said he was “looking forward to meeting with Prime Minister Narendra Modi in India”, following which reports said he could arrive in the South Asian country on April 21.

The duo met in the US in June last year when Modi was in the US on a state visit. Musk had on that occasion assured that his electronic vehicle maker would enter the Indian market “as soon as humanly possible”.

Musk was likely to make an announcement for investments in India worth $2-3 billion and his visit could see breakthroughs for Starlink, a satellite operator he owns, besides Tesla.

Tesla is reportedly looking for newer markets amid slowdown of sales in the US and China. India, one of the fastest growing automotive markets in the world, is among potential markets for Tesla, especially after its Narendra Modi government lowered taxes on imported cars of companies that invest locally.

Starlink is also set to receive initial approvals to operate in India, news agency AFP reported.

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