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

Tesla chief Elon Musk is set to announce an investment in India of $2-$3 billion, mainly for building a new factory, when he visits New Delhi next week to meet Prime Minister Narendra Modi

[{"selector":"#anim-d98b827a-3e42-4b13-9222-4aaa4dfe1211 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Musk will meet Modi on Monday during his India trip, when the billionaire is expected to unveil his plans to enter the world's third-largest auto market where electric car adoption is still in its infancy.

[{"selector":"#anim-b9ed708d-85c8-46bf-81f3-b94be4550e00","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Musk's visit comes as Tesla battles slowing sales in the major markets of the United States and China, and has this week announced layoffs affecting 10% of its workforce.

[{"selector":"#anim-c02bb48a-1c34-4781-add9-e5376148bc88 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Details of Musk's India visit are closely-guarded, with the CEO only publicly confirming on his social media platform X that he will meet Modi in India.

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Musk opposed India's high import taxes for EVs and lobbied for a change.

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[{"selector":"#anim-3ec2d7c9-41a5-49d5-8c5b-0d715dc6408c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Tesla has already started scouting for showroom space in New Delhi and Mumbai, and its Berlin factory is producing right-hand drive cars it aims to export to India starting later this year,