Billionaire Musk to Unveil Investment Plans in India

April 11, 2024, 3:47 pm
Reliance Industries Limited
Reliance Industries Limited
Location: India, Maharashtra, Navi Mumbai
Employees: 10001+
Founded date: 1966
Total raised: $22.14M
Elon Musk is set to meet with PM Modi in April, where he is expected to reveal his investment intentions and plans to establish a new manufacturing facility in India. Reports suggest that Tesla is in talks with Reliance Industries for a potential joint venture to set up a manufacturing plant in the country. India has recently reduced import taxes on electric vehicles, making it an attractive destination for automakers like Tesla. Musk's visit comes at a time when India is pushing for more domestic manufacturing in the electric vehicle sector, offering incentives to companies willing to invest at least $500 million. Stay tuned for more updates on this developing story.