Elon Musk to visit India for meeting with PM Modi

Elon Musk has announced on his social media platform 𝕏 formerly Twitter, that he will visit India to meet Prime Minister Narendra Modi without giving a date.

The Tesla boss is expected to announce major investment plans in the country soon.

Last month, India cut import taxes on electric vehicles (EV) for global carmakers which commit to investing $500m (£399m) and starting local production within three years.

In 2021, the Tesla boss said that India's high import duties had prevented the firm from launching its cars in the world's fastest-growing major economy.

Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen.

Tesla's shares have lost almost a third of their value since the start of this year.

India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector.

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