| | JULY 20244Elon Musk recently announced a deferment of his anticipated visit to India, citing significant commitments with Tesla as the primary reason. There was widespread expectation that Musk's visit would coincide with the unveiling of plans to set up a Tesla manufacturing unit in India, especially in light of the government's recent incentive of reduced import duties on certain electric vehicles. This incentive is available provided there is a commitment to invest a minimum of $500 million in local manufacturing within a span of three years. Musk expressed his eagerness to reschedule the visit for later in the year.However, analysts are quite sure that Tesla will ultimately set up a base in India, after we overtook Japan as the world's third-largest automobile market. This can be interpreted as a potential remarkable competition in the Indian automotive industry. As Tesla makes luxury electric vehicles, even though the affordable EV segment wouldn't worry much, the luxury EV makers in India will be watchful. The Indian EV market is expected to skyrocket in the next three to four years. According to a recent research report by Counterpoint Research, India's EV sales are expected to increase by 66 percent in 2024, and the EV market share in the passenger vehicle segment will double to 4 percent from 2 percent in 2023. As Tesla is expected to set new benchmarks in the EV segment, the Indian companies must up their game. The writing on the wall is clear: The Indian EV industry needs more leaders with innovation and courage in their hearts. This yearly special issue of CEO Insights sheds light on some of the leaders in the manufacturing industry who are looking good to command India Inc to its future.Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comEV Ecosystem isFlaring Up EditorialVol 05 · Issue 4 - 7 ·JULY, 2024 Publisher Alok ChaturvediSenior Designer Girisha M Antony Arnold. F Madhusmita SahooNoidaRohan S Jaspreet K Niteesh Pandey advertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comAdvertising ManagersNilesh Singh To subscribeVisit https://www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs. 150 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Executive Prints - 113/7, Ground floor, Old madras road, Halasuru, Bangalore - 560008 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2024 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.GM - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Hima P. M. Keerthana Kantharaj Roopalatha H Roshan Akthar Managing Editor Sujith Vasudevan
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