Tesla chief Elon Musk confirmed on Saturday that his planned visit to India has been postponed amid Tesla’s crucial quarterly results. He will not be able to visit India this month. But it is expected that he will visit India later this year.
Billionaire Elon Musk said in a post on X that the trip to India will be delayed due to several obligations regarding Tesla. He further said that I am very eager to come to India at the end of this year.
Tesla CEO Elon Musk is scheduled to visit India on April 21 and 22 and is scheduled to meet Prime Minister Narendra Modi during the visit. Elon Musk was scheduled to announce his plans to enter the Indian market during his visit to India.
The billionaire had tweeted last week that he wanted to meet Prime Minister Narendra Modi. During his visit to India, SpaceX CEO Elon Musk was also scheduled to meet representatives of Indian space companies.
Elon Musk’s visit to India, originally scheduled for April 21 and 22, has been postponed.
He needs to attend Tesla’s earnings call on April 23, which may be the reason for the delay.
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It is worth noting that Elon Musk met Prime Minister Narendra Modi during his visit to the US in June last year and said that he plans to visit India in 2024. He also assured that Tesla will enter the Indian market soon.
Ever since news of Elon Musk’s visit to India broke, expectations have been high that he, along with his satcom venture Starlink, will announce plans for electric car maker Tesla to set up shop in the country. It was also expected that Elon Musk will announce plans to set up his own manufacturing unit for Tesla in India and they will also invest billions of dollars for it. In India, Tesla will be looking for ways to accelerate the sale of electric cars as soon as possible.
Elon Musk is eyeing the Indian market not just for electric cars but also for his satellite internet business Starlink, for which he is awaiting regulatory approval.
Elon Musk recently held an important conference call with analysts on Tesla’s quarterly results. Following the conference call, the company laid off approximately 14,000 employees globally, equivalent to 10 percent of the company’s workforce.
At Tesla, up to 20 percent of employees in some departments were laid off. This decision was taken due to poor financial performance.
Rohan Patel and Drew Baglino, two high-profile Tesla executives, have also left the company.
Tesla has also shelved plans to develop a low-cost EV for the time being, which is expected to cost around $25,000 to build.