Tesla's CEO Elon Musk is preparing to announce an investment plan worth 2 to 3 billion dollars to build a new factory in India during his visit to New Delhi next week.
According to Reuters, Musk will meet with Indian Prime Minister Narendra Modi next Monday as part of his visit to India.
Musk will announce his plan to enter the Indian market, the world's third largest automobile market, where the electric vehicle industry is now in its infancy.
The currently small but growing electric vehicle market in India is under the control of local carmaker Tata Motors. It aims to be an electric vehicle.
