Elon Musk, the CEO of Tesla, has confirmed speculations about his planned visit to India by expressing his anticipation of meeting Prime Minister Narendra Modi in the country. He shared this excitement on X, a microblogging platform owned by him, without disclosing the specifics of the visit date.

Reuters had earlier reported that Musk, a billionaire, would travel to India later this month, likely making announcements regarding investments in the country and the establishment of a new factory. Last June, Musk, also the founder of SpaceX, met PM Modi in the US and expressed his admiration, stating his confidence in Tesla’s presence in India at the earliest opportunity.

This announcement follows India’s recent unveiling of an electric vehicle policy aimed at enticing investments from esteemed global manufacturers. The policy entails significant tax cuts, up to 85%, on the import of a specified number of electric vehicles. Moreover, companies establishing manufacturing units for electric cars would benefit from reduced customs duties for imported vehicles meeting specific criteria.

According to Reuters, Tesla officials are expected to visit India in April to explore potential locations for a manufacturing plant, requiring an investment of approximately $2 billion.