Brief by Shorts91 Newsdesk / 03:00pm on 10 Jan 2024,Wednesday Business
Despite expectations, Elon Musk's Tesla refrains from unveiling investment plans in India at the Vibrant Gujarat Global Summit. Gujarat's Managing Director, Rahul Gupta, asserts the government's readiness to support Tesla but emphasizes investment remains the company's decision. Gujarat maintains its appeal as a top choice for electric vehicle investments. Talks initiated during PM Modi's US visit in June 2023 continue, with Tesla exploring a potential $2 billion investment in an Indian EV factory. However, the company seeks concessions on import duties for initial years. The decision prolongs anticipation for Tesla's entry into the Indian market.
