Elon Musk Puts Plans To Meet Modi On Hold: 'Very Heavy Tesla Obligations Require That The Visit To India Be Delayed'

Tesla Inc. CEO Elon Musk has postponed his highly anticipated visit to India, which was scheduled for April 21-22.

What Happened: Musk, who was expected to meet with Prime Minister Narendra Modi during his visit, has deferred the plans.

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Musk said, "Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year."

Benzinga has reached out to Tesla for a comment but did not immediately receive a response at the time of writing.

The billionaire entrepreneur was expected to meet with PM Modi and make an official announcement regarding his India strategies during the visit.

Additionally, Musk is reportedly considering an investment of ₹16,500 crore to $25,000 crore ($2 billion to $3 billion) for a new factory in India. This has sparked a race, with multiple Indian states courting the company.

This includes Gujarat, Maharashtra, and the “Detroit of India,” Tamil Nadu, preparing a pitch to court Tesla to set up its manufacturing plant in the state.

"Tamil Nadu is already the automotive capital of the country…. we will aim at making the state the EV capital too," the state's minister for industries T.R. B Rajaa reportedly said.

Why It Matters: Musk’s visit to India was highly anticipated, with speculations rife about the announcement of investment and manufacturing plans in the country.

The Indian government’s recent decision to revise the foreign direct investment (FDI) limits in the space sector, effective April 16, was also seen as a move that could support Musk’s Starlink plans in India.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photos courtesy: Shutterstock

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