TS eyeing Tesla project, Sridhar Babu welcomes Musk to state

Hyderabad: Even as Tesla CEO Elon Musk confirmed his visit to India later this month, Telangana, which has been chasing Tesla project has welcomed the billionaire to the state. State Industries and Commerce minister D Sridhar Babu is leaving no stone unturned to woo Tesla to establish its India plant in the state. Welcoming Musk to Telangana, he wrote on

Dear @elonmusk - Telangana, The Youngest State of India welcomes you to India, Sridhar Babu wrote on his handle.

In an earlier post, the minister highlighted the industry-friendly policy of the state,

We have been making all out efforts to bring Tesla to Telangana for some time.

"Telangana with it's Industry friendly policy, is working with a progressive and futuristic vision by creating a world class Infrastructure and hassle free permissions system to enable best in class companies like TESLA to do business in Telangana.

Our team is continuing the dialogue and discussions with Tesla by putting in all efforts for Tesla to establish their plant in Telangana. @elonmusk," he said.

Meanwhile, Elon Musk has confirmed his visit to India later this month to meet Prime Minister Narendra Modi and is likely to announce the company's investment plans in the country, according to sources. Musk, who has described as a 'natural progression' to provide Tesla electric vehicles in India, is likely to be accompanied by other company executives during the visit that is expected in the week of April 22, a source said.

An e-mail query sent to Tesla to confirm Musk's visit remained unanswered.

In June last year, Musk met awith Modi during the latter's US visit and stated that he planned to visit India in 2024 while expressing confidence that Tesla would enter the Indian market soon.

His upcoming visit to India comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla.

Last year, Tesla approached the Indian government seeking duty cuts to import its vehicles in India.

Previously in 2022, Musk had said that Tesla, which was earlier seeking a reduction in import duties to sell its vehicles in India, would not manufacture its products unless it is allowed to first sell and service its cars in the country.

In August 2021, Musk said that Tesla may set up a manufacturing unit in India if it first succeeds with imported vehicles in the country. He had said Tesla wanted to launch its vehicles in India "but import duties are the highest in the world by far of any large country!"

( Source : Deccan Chronicle with agency inputs )
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