Tesla CEO Elon Musk postpones India trip; to visit later this year

Tesla Chief Executive Officer (CEO) Elon Musk's visit to India has been postponed, according to a report.

Musk was scheduled to visit India for two days April 21 and 22 to meet Prime Minister Narendra Modi and announce plans to enter the Indian market.

According to the report, Musk's scheduled call with investors and analysts regarding Tesla's earnings on April 23 may have clashed with his planned visit to India.

The new dates for his India visit are yet to be announced. During his now-cancelled trip, the billionaire was reportedly set to announce an investment of $2-$3 billion in India, mainly for building a new factory. 

During his visit to India, the Tesla CEO was scheduled to meet Indian startups and space companies.

On April 10, Musk had tweeted saying that he was looking forward to meeting PM Modi. 

Following his announcement to visit India, the Indian government released a notification stating a new electric vehicle manufacturing policy which allows the government to give duty concessions to electric car companies committing to make in India.

Last year, Musk had announced that his company, Tesla, will likely make a significant investment in India as the government looks to lure foreign EV brands in the country.

Sources reported that the state governments of Maharashtra and Gujarat had extended land offers to Tesla for setting up the plant. 

Tesla's proposed manufacturing plant, with estimated investments ranging from $2 billion to $3 billion, aims to cater to both domestic and international demand for Tesla's electric vehicles.