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Tesla CEO Elon Musk Cancels India Trip, States Big Reason

Tesla CEO Elon Musk postponed his India trip, including a meeting with Prime Minister Narendra Modi, and the announcement of plans for Tesla electric cars, citing "very heavy Tesla obligations." The anticipated project involves a $2-3 billion investment in an electric car factory, with hopes for a later visit.

Edited By : Saurav Gupta | Updated: Apr 20, 2024 13:12 IST
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Tesla CEO Elon Musk Cancels India Trip
Tesla CEO Elon Musk Cancels India Trip

Tesla CEO Elon Musk has postponed his trip to India, where he was scheduled to meet Prime Minister Narendra Modi and announce plans for Tesla electric cars in the country. Musk attributed the delay to very heavy Tesla obligations. He expressed anticipation for a visit later this year.

Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year, Musk wrote on Twitter. He was expected to announce an ambitious project, likely involving a $2-3 billion investment to establish a factory for manufacturing entry-level electric cars, with a speculated price of around Rs 25 lakh.

Also read: Tesla And Reliance In Talks To Collaborate On EV Manufacturing Plant In India

Moreover, Musk was set to meet executives from various space startups in New Delhi. He is also awaiting government regulatory approvals to offer his Starlink satellite broadband services in India. Earlier, Musk confirmed his trip and meeting with PM Modi.

Looking forward to meeting with Prime Minister Narendra Modi in India, he wrote. The factory would manufacture entry-level electric cars, speculated to be Model 2, despite recent question marks around the development of the product.

Musk’s visit was highly anticipated, as it was expected to provide a significant boost to India’s electric vehicle industry. However, the delay due to very heavy Tesla obligations has put the plans on hold. Nevertheless, Musk remains keen on visiting India later in the year, keeping hopes alive for the much-awaited announcement regarding Tesla’s entry into the Indian market.

Also read: Tesla Cars Could Cost Rs 37 Lakh With New Electric Vehicle Policy; Only If Elon Musk Approves

First published on: Apr 20, 2024 10:58 AM IST

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