🌟 Elon Musk's Visit to India Confirmed! 🇮🇳
🚀 Elon Musk, via his platform 𝕏 (formerly Twitter), revealed his upcoming visit to India for a meeting with Prime Minister Narendra Modi. No specific date has been provided yet.
💼 The Tesla CEO is anticipated to unveil significant investment plans in the country in the near future.
🛣️ Last month, India reduced import taxes on electric vehicles (EVs) for global automakers committing to investing $500 million and commencing local production within three years.
🔋 In 2021, Musk cited India's high import duties as a barrier to launching Tesla cars in the country, hindering entry into the world's fastest-growing major economy.
💰 Despite price cuts by Tesla to counter heightened competition, demand in vital markets like China has waned, resulting in nearly a third drop in Tesla's shares since the year's commencement.
📈 India surpassed the UK in 2022 to become the world's fifth-largest economy, with a robust 8.4% growth in the December quarter, fueled by a thriving manufacturing sector.
