Elon Musk was scheduled to meet Prime Minister Narendra Modi during his trip to India.
Elon Musk, Tesla chief and one of the world’s richest people, has postponed his much-awaited trip to India. The SpaceX founder and CEO was scheduled to meet Prime Minister Narendra Modi in New Delhi during his visit. The billionaire blamed “very heavy Tesla obligations” for his decision.
“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,” Elon Musk wrote on X.
Last week, Elon Musk, who also owns X (formerly Twitter), confirmed his meeting with PM Modi in India.
“Looking forward to meeting with Prime Minister Narendra Modi in India,” he wrote on X.
Elon Musk was expected to announce an investment of 2-3 billion dollars, to build a factory in India.
Elon Musk had met PM Modi during the latter’s visit to the United States in June last year. The Tesla chief had discussed PM Modi, his plans to visit India in 2024 and Tesla’s plan to enter the Indian market and setting up the much-anticipated factory.
The announcement of Elon Musk’s visit to India comes months after the central government announced a new electric vehicle policy that would give import duty concessions to companies that set up manufacturing plants in India with an investment of at least $500 million. I was disappointed.
The Tesla founder’s visit was also expected to give a boost to Starlink, another ambitious project in India. Bloomberg, citing “people familiar with the matter,” said Starlink has received assurances from the central government that it could start operations in the country as early as the third quarter of this year.
Experts argue that Starlink’s operations in India will mark a further deepening of the security partnership between India and the US.
India eased foreign direct investment rules in the space sector in February, allowing companies to invest in satellite and rocket manufacturers.
