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Elon Musk apologizes after Piyush Goyal's visit to Tesla Fremont factory

Livemint

Livemint · 1y ago

Elon Musk apologizes after Piyush Goyal's visit to Tesla Fremont factory

Elon Musk, CEO of Tesla, apologizes to India's commerce minister, Piyush Goyal, for not being able to meet him during his visit to Tesla's factory in California. Musk expresses his gratitude for Goyal's visit and hopes to meet him in the future. Goyal praises India's contribution to Tesla's journey and states that the company is set to increase its imports from India. Speculation arises about tax concessions for Tesla to establish an EV manufacturing facility in India.

Related News

Tesla CEO Elon Musk to visit India, meet PM Modi and announce investment plans: Report

Thehindubusinessline

Thehindubusinessline · 1y ago

Tesla CEO Elon Musk to visit India, meet PM Modi and announce investment plans: Report

Elon Musk, the CEO of Tesla, plans to visit India in April to meet with Prime Minister Narendra Modi. During the visit, Musk is expected to make an announcement regarding Tesla's investment plans and the opening of a new factory in India. Tesla has been lobbying for lower import taxes on electric vehicles in India and has been in talks to set up a manufacturing plant in the country. India recently unveiled a new EV policy that lowers import taxes for manufacturers who invest at least $500 million and set up a factory.

Tesla’s year-over-year sales dropped for the first time since 2020

The Verge

The Verge · 1y ago

Tesla’s year-over-year sales dropped for the first time since 2020

In Q1 2024, Tesla delivered 386,810 vehicles, falling short of the previous quarter and experiencing a year-over-year sales decline. The company attributed the decrease to issues with the production ramp-up of the updated Model 3 at its factory in Fremont, as well as shipping delays caused by external factors such as rebel attacks and arson. However, analysts see this as a significant setback for Tesla and believe that CEO Elon Musk needs to address the situation swiftly to regain momentum.

Tesla's Elon Musk likely to unveil $2-$3 billion India investment during visit

Livemint

Livemint · 1y ago

Tesla's Elon Musk likely to unveil $2-$3 billion India investment during visit

Tesla CEO Elon Musk is planning to invest $2-$3 billion in India, primarily to build a new factory, during his visit to meet with Prime Minister Narendra Modi. Musk's visit comes as Tesla faces slowdown in sales in the US and China. India's electric vehicle market is small but growing, with the government targeting 30% of new cars to be electric by 2030. Musk has been critical of India's high import taxes for EVs, but the government recently announced a policy to lower these taxes if carmakers invest at least $500 million and establish a factory.

Elon Musk coming to India this month, may announce Tesla's India plan during meeting with PM Modi

Economic Times

Economic Times · 1y ago

Elon Musk coming to India this month, may announce Tesla's India plan during meeting with PM Modi

Tesla CEO Elon Musk is scheduled to visit India later this month to meet with Prime Minister Narendra Modi. During the visit, Musk is expected to announce his plans to invest in and open a new factory in the country. Sources reveal that the meeting is planned for the week of April 22 in New Delhi. Tesla officials are also expected to explore potential sites for a manufacturing plant that would require an investment of approximately $2 billion. Neither Modi's office nor Tesla have commented on the matter.

Tesla about to double its components imports from India

Reuters · 1y ago

Tesla about to double its components imports from India

Tesla plans to double its component imports from India, according to Indian Trade Minister Piyush Goyal. He made the announcement after visiting Tesla's manufacturing facility in California. In September, Tesla aimed to source components worth $1.7 billion to $1.9 billion from India for the year. The minister's visit included discussions on Tesla's plans to set up a factory in India, manufacture a $24,000 car there, source more components, and establish charging infrastructure across the nation.

India commerce minister to meet Tesla's Musk amid market entry talks

Reuters · 1y ago

India commerce minister to meet Tesla's Musk amid market entry talks

Indian Commerce Minister Piyush Goyal is set to meet with Tesla CEO Elon Musk in the United States to advance Tesla's entry into the South Asian market. Discussions will include Tesla's plans for an Indian factory and manufacturing a $24,000 car locally. They will also address the possibility of India reducing import taxes on electric vehicles (EVs) for automakers that commit to local manufacturing. This meeting aims to ensure talks are progressing favorably between India and Tesla.

Tesla CEO Elon Musk postpones India visit for unknown reasons: Report

Livemint

Livemint · 1y ago

The planned visit of Elon Musk, the CEO of Tesla, to India has been postponed for undisclosed reasons. It was reported that Musk's schedule may have clashed with another engagement. Musk had expressed his anticipation to meet with Prime Minister Narendra Modi in India. Tesla has been lobbying India to lower import taxes on electric vehicles as it considers setting up a factory in the country. There have also been talks of Tesla forming a joint venture with Reliance Industries to establish an EV facility in India. Additionally, Musk's satellite venture Starlink is awaiting approval for its license application in India.

Elon Musk may announce Tesla's entry in India after meet with PM Modi: Report

Livemint

Livemint · 1y ago

Elon Musk may announce Tesla's entry in India after meet with PM Modi: Report

According to a senior government official, entrepreneur Elon Musk is expected to announce Tesla's entry into the Indian market following a meeting with Prime Minister Narendra Modi on April 22. While the announcement won't be site-specific, it will signal Tesla's intention to enter the market. Musk confirmed his visit to India earlier this month and a press release and video are expected to be released after his interaction with the prime minister. Tesla has been lobbying the Indian government to lower import taxes on electric vehicles as it explores the possibility of setting up a factory in the country.

India Contemplates Five-Year Tax Cut On EV Imports To Attract Tesla

Startup News FYI

Startup News FYI · 1y ago

India Contemplates Five-Year Tax Cut On EV Imports To Attract Tesla

The Indian government is considering tax reductions on fully assembled imported electric vehicles (EVs) for up to five years in order to attract companies like Tesla to sell and potentially manufacture EVs within the country. The government is formulating an EV policy that would allow global car manufacturers to import EVs at reduced duty rates if they commit to manufacturing EVs in India. Tesla CEO Elon Musk is expected to meet with Commerce and Industry Minister Piyush Goyal to discuss the company's plans to establish a factory in India.

Elon Musk was spotted with his son X Æ A-XII at a German Tesla factory as his custody battle with Grimes drags on

Business Insider

Business Insider · 1y ago

Elon Musk was spotted with his son X Æ A-XII at a German Tesla factory as his custody battle with Grimes drags on

Elon Musk was seen at a Tesla factory in Germany with his son X AE A-XII amid an ongoing custody battle with Grimes. The factory had recently reopened after a power outage caused by a fire. Musk and Grimes have been disputing custody of their children, with both parties filing lawsuits. This is not the first time Musk has traveled with X AE A-XII, as they had previously visited Auschwitz earlier in the year. Musk has yet to comment on the situation.

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