Elon Musk, CEO of Tesla, plans to personally explain the company's plan to establish a factory in India to Indian Prime Minister Narendra Modi during his visit to the United States, major foreign media reported on the 20th (local time).
According to major foreign media citing anonymous sources, CEO Musk is scheduled to hold a private briefing on the factory establishment on the day Prime Minister Modi visits the United States. This is the first high-level discussion aimed at expanding Tesla's production base.
Earlier last month, a delegation including Kan Budhiraj, Tesla's senior executive in the supply chain division, visited India and met with government officials to discuss the establishment of automobile and battery production plants.
Tesla has been seeking to enter the Indian market for years but has been unable to narrow differences over India's high import taxes. The Indian government requires direct local production of automobiles. However, recently both sides have resumed negotiations. A source told major foreign media, "Tesla has very big plans for India."
Currently, Tesla has production plants not only in the United States but also in Shanghai, China, and Brandenburg, Germany. To achieve Tesla's goal of selling 20 million vehicles annually by 2030, additional large-scale investments in automobile assembly plants and battery production are necessary.
In this regard, CEO Musk recently stated in an interview with The Wall Street Journal (WSJ) that he plans to decide on the site for a new electric vehicle factory by the end of this year.
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