Did Tesla Just Change Its Mind About Investing In India?

Tesla Halts India Plant Plans

Tesla pauses plans for an India plant as CEO Elon Musk delays his visit, halting further communication with Indian authorities.

Lack of Follow-Up from Tesla

Tesla executives stopped contacting Indian officials, with no further inquiries from Musk’s team since April.

Capital Issues and Investment Hesitation

Reports indicate Tesla faces capital issues and has no immediate plans for fresh investments in India.

Missed Opportunities and Market Potential

Tesla initially planned a $2 billion investment in India. The new EV policy offers reduced import taxes for significant foreign investments.

“Tesla’s Loss, Not India’s”

Reacting to Tesla's delayed investment, Ola founder and CEO Bhavish Aggarwal posted on X, emphasizing, "It's Tesla's loss, not India's," highlighting India's burgeoning EV and lithium ecosystem.

Growth in Indian EV Market

EV adoption rises in India, especially in two and three-wheelers, but EV cars still make up only 1.3% of total car sales.

Tesla’s India Plans Take A Backseat As EV Major Ceases Contact With Authorities