What Elon Musk's India Plans Could Mean For Country As EV Hub
NDTV
A report has said that the Tesla chief will visit India this month to meet Prime Minister Narendra Modi and is expected to make an announcement on his plans to invest and open a new factory in India.
Elon Musk is all set to visit India this month, with a Reuters report indicating that the Tesla chief could announce investment plans to manufacture Electric Vehicles (EVs) in the country. The announcement will be a shot in the arm for New Delhi's efforts to become a key investment hub for the EV industry.
Experts told NDTV that the West's efforts to prevent Beijing from flooding the global market with low-priced EVs could provide a fillip to Indian industry.
Nimish Trivedi, CEO and co-founder, Prakriti E-Mobility, said, "With both the US and Europe aiming to curb Chinese EV imports, India is emerging as a strong contender to become a top investment destination. This is fuelled by India's rapidly growing EV market, projected to account for over 40% of the total automotive market and generate over $100 billion in revenue by 2030."
