Results for: EV Policy

Tesla and X owner Elon Musk has congratulated Narendra Modi on his re-election as Prime Minister of India for a third term. Musk expressed his anticipation for his companies to contribute to exciting projects in India. He had previously planned a visit to India in April, but it was postponed due to Tesla obligations. Despite the delay, Musk intends to visit India later in the year and potentially discuss Tesla’s plans for the country. India’s recent launch of its EV policy has garnered attention from Musk, who believes it is a natural progression for his company to provide electric vehicles in India. The 2024 Lok Sabha election results concluded with the BJP securing 240 seats, below their previous count. Prime Minister Narendra Modi will be sworn into office on June 9, 2024, by President Droupadi Murmu.

Despite the Indian government’s efforts to attract electric vehicle (EV) manufacturers like Tesla, the company’s plans for entering the Indian market remain uncertain. Tesla has not conducted significant studies or held detailed discussions with state governments, indicating a lack of immediate intent to establish a manufacturing presence in the country. The automaker’s lack of communication with suppliers in India further suggests that it does not have an immediate plan for the Indian market. Tesla’s cautious approach contrasts with other automakers like VinFast, which has already begun constructing a battery and vehicle assembly plant in India. Tesla’s CEO, Elon Musk, has prioritized other commitments over a visit to India, adding to the uncertainty surrounding the company’s India plans. While Tesla’s global ecosystem partners suggest that establishing a manufacturing facility in India could take up to three years, the company’s current focus on optimizing production lines and its strategic shift toward AI and robotics may not align well with the current technological and regulatory landscape in India.