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Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, June 16, 2023.
Chesnot | Getty Images
Tesla CEO Elon Musk is set to meet Indian Prime Minister Narendra Modi today in New York during Modi’s visit to the US, according to two sources familiar with the situation.
Musk and Modi are expected to discuss Tesla’s ambitions in the country, establishing a manufacturing base and potential incentives for battery production. Tesla discussed working in India in the pastbut so far no agreement has been reached there.
Tesla’s largest manufacturing base outside the United States is in China, and it also operates a major facility outside Berlin. In March, Tesla unveiled plans to build a factory in Mexico.
The meeting comes as more US-based multinationals look to diversify away from China and expand their supply chain footprint. India’s government also has ambitions to bring more electric cars to the country as it tries to catch up with China and Europe. Tata Motors, Mahindra & Mahindra and Ola Electric are among the top domestic electric vehicle players in India. While India is widely seen as a growth market for the broader auto industry, IEA projects still account for electric vehicle sales a small share of the global market.
The IEA notes that “In India and across all regions outside the three major electric vehicle markets, electric vehicle sales are expected to account for 2-3% of vehicle sales in 2023, a relatively small but growing share.”
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