Tesla chief Elon Musk is likely to announce investments worth $2-$3 billion during his visit to India next week. Musk is expected to meet Prime Minister Narendra Modi on Monday. According to a Reuters report, during his visit the billionaire businessman is likely to unveil his plans to enter India's growing EV market.

The EV market made up merely two per cent of India's total car sales in 2023. The government is targetting to raise this to 30 per cent by 2030.

Tesla is yet to reveal the details about Musk's India visit. Musk has merely stated in a tweet that he would be meeting Prime Minister Modi.

The visit comes even as Tesla is facing a slowdown in sales in major markets like the United States and China. Recently, the company had announced that it is laying off 10 per cent of its workforce.

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