The Tesla CEO had already dropped his plans to visit India in the month of April where he was supposed to meet the prime minister also. But, he cited pressing issues and cancelled his trip. He had shared his plans to visit India just weeks after the nation announced its new EV police in which it lowered the import taxes on EVs from foreign carmakers.
Tesla CEO, Elon Musk has become the closest ally of US President-elect Donald Trump and he has received a plum post in the upcoming Trump administration. The next US government may ask India to give his company more concessions, allowing it to enter the Indian market. Earlier, Musk had dropped his plan to foray into the Indian market.
The electric vehicle division in the country is growing swiftly and the Indian companies have started offering customers different options and it may become less attractive for Musk’s company.
The Tesla CEO had already dropped his plans to visit India in the month of April where he was supposed to meet the prime minister also. But, he cited pressing issues and cancelled his trip. He had shared his plans to visit India just weeks after the nation announced its new EV police in which it lowered the import taxes on EVs from foreign carmakers. He had pledged to invest $41.5 billion.
A few months ago, Bloomberg had reported that India is not going to anticipate the company soon with its investment as the officials did not contact Indian officials in this regard.
The Indian government was conveyed that Tesla had capital issues and it was in no mood to pledge fres investment.
Pressure mounted on Tesla after the company consecutively witnessed a drop in quarterly deliveries across the world. The company has also faced tough competition in China.
On the other hand, Anand Mahindra’s Mahindra & Mahindra launched the highly-anticipated Born Electric range featuring two electric SUVs—the BE 6e and XEV 9e. Noel Tata-led Tata Motors has also unveiled new models Curvv.ev and an extended-range version of Nexon.ev.