Due to commitments at his Tesla manufacturer, Elon Musk canceled a trip to India where he was scheduled to meet Prime Minister Narendra Modi. He stated that he intended to reschedule the meeting for a later time this year.
Musk wrote on his social networking platform, X, “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.”
Four sources with knowledge of the situation were cited by Reuters on Saturday to confirm the postponement. According to Reuters, part of the trip’s agenda was to reveal the company’s intentions to join the South Asian market as an electric vehicle (EV) manufacturer.
Both the prime minister and the CEO are in pivotal positions.
When Tesla releases its quarterly results on Tuesday, analysts are certain to grill Musk on declining sales, growing competition from Chinese EV manufacturers, and the future of important Tesla products.
On April 5, Reuters revealed that Tesla had put a hold on work of the long-awaited, reasonably priced electric vehicle, popularly known as the Model 2. Following the report, Musk said on Twitter, “Reuters is lying,” without providing any specific errors. Since he hasn’t discussed the methodology any more, investors are begging for clarification.
This week also saw the resignation of Rohan Patel, a Tesla public policy executive who, according to reports, was in charge of the company’s plans for entering India.
Two days after the start of India’s national election, in which Modi is expected to win an uncommon third term, Musk would have arrived. Modi wishes to emphasize his commitment to turning India become a major hub for global manufacturing.
On April 10, Musk said on X that he was “Looking forward to meeting with Prime Minister Narendra Modi in India!” following Reuters’ news of his travel schedule to India.
Musk was expected to declare an investment of $2 billion to $3 billion in New Delhi, mostly for the construction of an Indian factory, following the government’s announcement of a policy that lowers high import auto tariffs for businesses that invest locally, according to Reuters.
In New Delhi, he was also scheduled to meet with CEOs from a number of space businesses. Musk is awaiting regulatory permits from the Indian government before launching his Starlink satellite broadband services in the most populous nation on earth.
