Tesla chief Elon Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi on Monday and announce plans to enter the South Asian market, three people familiar with the matter said on Saturday.

Reuters could not immediately determine why Musk postponed the trip. Tesla and Modi's office did not immediately respond to requests for comment.

After Reuters reported his India trip plans on April 10, the CEO posted on X: "Looking forward to meeting with Prime Minister Narendra Modi in India!"

In New Delhi, Musk was expected to announce an investment of $2 billion to $3 billion, mainly to build a factory in India, after the government announced a policy lowering high tariffs on imported cars if companies invest locally, Reuters has reported.

Musk's planned Sunday arrival was to have come two days after the start of India's nation election, in which Modi is forecast to win a rare third term.