Elon Musk postpones India visit, citing Tesla obligations | CNN Business
This morning, Tesla’s head honcho, Elon Musk, disclosed the postponement of his anticipated journey to India, citing “very heavy Tesla obligations” as the cause, just a day ahead of his scheduled arrival. Musk, the mastermind behind both Tesla and SpaceX, had plans to rendezvous with Prime Minister Narendra Modi during his brief sojourn, intending to unveil prospective investment schemes for his enterprises.
Acknowledging the necessity to defer his visit, the world’s wealthiest individual reaffirmed his keenness to set foot on Indian soil later in the 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,” lamented the tech tycoon.
In the preceding week, Musk had eagerly anticipated a tête-à-tête with Prime Minister Narendra Modi in India, fueling speculations of an arrival on April 21.
He had previously engaged with the Prime Minister on US turf last June, pledging Tesla’s imminent entry into the Indian market “at the earliest conceivable moment.”
Further anticipation surrounded Musk’s slated announcement of investments ranging between $2-3 billion in India, with prognostications hinting at prospective breakthroughs for Tesla and Starlink, the latter being a satellite internet venture under his helm.
Amidst reports of dwindling sales in the US and China, Tesla, the electric vehicle pioneer, is reportedly exploring fresh markets, with India emerging as a promising prospect, particularly following governmental revisions reducing tariffs on imported vehicles for companies venturing into local investments.
Simultaneously, Starlink is poised to secure preliminary nods for operations in India, according to reports from AFP. Preceding this, the government had announced amendments to its foreign direct investment guidelines in the space sector, aiming to facilitate easier access for international investors in Indian enterprises.
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