During his upcoming visit to India next week, Tesla CEO Elon Musk is expected to announce investments ranging from $2 to $3 billion. Musk is scheduled to meet with Prime Minister Narendra Modi on Monday, where he is likely to discuss his plans to enter India’s burgeoning electric vehicle (EV) market. The Indian government aims to increase the EV market share from two percent of total car sales in 2023 to 30 percent by 2030.
Although specifics about Musk’s visit to India have not been disclosed by Tesla, the billionaire entrepreneur hinted at the meeting with Prime Minister Modi through a tweet. This visit occurs amid challenges for Tesla, including a slowdown in sales in key markets like the United States and China. Recently, the company announced layoffs affecting 10 percent of its workforce.
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