Elon Musk’s Tesla Not Moving Forward With in India Any Time Soon, Company’s Executives Stop Contacting Indian Government Since April, Ola’s Bhavish Aggarwal Reacts
Elon Musk cancelled his visit to India due to heavy obligations at Tesla during quarter results and said to visit the country later in 2024. However, according to a report, the Tesla may not come in India any time soon as company executives stopped contacting Indian government since April 2024. Ola CEO Bhavish Aggarwal reacted to this news.
Mumbai, July 5: Elon Musk confirmed to visit India and meet with PM Narendra Modi regarding Tesla's entry into the Indian automobile market in April. However, the same month, the tech billionaire confirmed not coming to India due to crucial Tesla quarter results. He announced his plans to visit India later this year. Elon Musk posted on X, "...very heavy Tesla obligations require that the visit to India be delayed." However, after some days, he visited China regarding Tesla's FSD (Full Self-Driving) software.
Elon Musk's India visit was anticipated to bring a huge investment of a minimum of INR 4,150 (about USD 500 million) to set up the facilities in India. According to several reports, the ideal places to set up Tesla's factories in Gujarat are Dholera, Becharaji, and Sanand. All of these locations have substantial industrial estates, allowing Elon Musk's EV company to manufacture its all-electric cars easily. Australia-India Strategic Research Fund: 5 Indian Institutions Receive Grants for Their Projects Including for AI, Machines Learning, Biotech and More Under AISRF.
Ola Founder and CEO Bhavish Aggarwal Reacts to Tesla Not Coming in India
According to a report by Bloomberg, Elon Musk scrapped his plans to visit India in April and would not move forward with his investment in Tesla company. Elon Musk reportedly ceased the contract with the Indian government about entering the country with electric vehicles. Elon Musk's executives stop contacting the government of India about any further contract development. India doesn't expect Elon Musk's EV company to move forward soon.
After postponing its visit to India, Tesla's team did not contact or make any further queries with Indian officials. In April, Tesla layoffs were announced, affecting thousands of people amid stiff market competition and price wars. Ola CEO Bhavish Aggarwal reacted to this news about Elon Musk's Tesla not coming any time soon in India. He said, "If true, this is Tesla's loss, not India's." Tata Motors Reveals Tentative Launch Timeline of Tata Sierra, Tata Nexon CNG and Tata Curvv; Check Details
He further said, "...Indian EV and Lithium ecosystem is early, we're gaining momentum quickly." He added that it would be too late for Tesla to look at India seriously again in a few years. India changed its EV policy, allowing foreign companies to establish EV production in India. Amitabh Kant, former CEO of the NITI Aayog, addressed Tesla in May that India would not make any further changes to its EV policy to suit a specific company.
(The above story first appeared on LatestLY on Jul 05, 2024 10:59 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).