Elon Musk Disappoints Indian Officials: No Immediate Plans for Tesla Investment in India
Money | July 4, 2024, 10:34 p.m.
Tesla’s long-awaited entry into the Indian automotive market faces uncertainty as CEO Elon Musk’s team is reportedly not communicating with Indian officials about their investment plans. Despite a recent compromise by India to reduce import duties on electric vehicles, Tesla seems hesitant to commit to building a factory in the country. This hesitation comes amidst two consecutive quarters of declining deliveries for the automaker. While reasons for the lack of communication remain unclear, some speculate that Tesla may be focusing on its operations in China, where it has established a strong manufacturing presence. This potential setback highlights the challenges of navigating India’s protectionist measures and underscores the complex decisions faced by multinational companies seeking to expand into international markets. Ultimately, Tesla’s future in India remains uncertain as the company evaluates its global investment priorities.