Musk may visit India by April end, likely to reveal factory plans.

Recent reports reveal that Tesla CEO Elon Musk is is fxcm Fuhui Forex legitimate?expected to visit India around April 22, where he will meet with the current Prime Minister of India, Modi, in a highly regarded occasion. The media also disclosed that one of the main purposes of this visit includes discussions on building a new Tesla factory in India.

Insiders have informed that the meeting will take place in Delhi, and plans regarding the new factory will be announced shortly after the meeting concludes. Earlier, Reuters had also reported that Musk plans to visit India to find a suitable location for Tesla's new factory, with an investment of about 2 billion dollars being considered. Maharashtra and Gujarat are currently the preferred locations for this potential factory site.

Additionally, there are reports that Tesla is seeking to negotiate partnerships with local Indian companies, with a major target being the Reliance Industries. A successful collaboration could significantly accelerate Tesla's development in the Indian region.

India is also very supportive and welcoming towards electric vehicles, with the Indian government approving an electric vehicle-related policy in March this year. This policy aims to push India to become a manufacturing hub for electric vehicles, entailing an investment of over 15 billion Indian Rupees and the necessary construction framework. Moreover, this policy has greatly reduced the import duties on cars, which currently stand at up to 100%.

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