India's new EV manufacturing policy is likely to pay a quick dividend.
Elon Musk announced that he would be visiting the country to meet Prime Minister Narendra Modi.
"Looking forward to meeting with Prime Minister Narendra Modi in India!" Musk posted on microblogging site X (formerly Twitter). He will likely meet Modi in the week on April 22, although neither the PM's office nor Tesla officials confirmed the meeting.
The Tesla chief is expected to announce investments and a manufacturing facility in the country, Reuters reported, quoting unidentified sources.
Musk and Modi earlier met in June last year, when Musk announced he was very interested in investing in India. Tesla has lobbied the Indian government to lower import taxes on electric vehicles. Last month, the country's new EV policy, designed to attract manufacturers, cut import taxes from 100 percent to 15 percent on certain models if the manufacturer invested at least $500 million and sets up a factory.