ELON MUSK POSTPONES INDIA VISIT, SAYS "VERY MUCH LOOK FORWARD TO VISITING LATER THIS YEAR"
Tesla CEO Elon Musk has postponed his visit to India. "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 said in a post on X (formally twitter) on April 20.
The post cleared speculations about the reason behind the postponement. It is believed that Musk's visit coincides with his presence required for a crucial conference call on April 23 in the US to answer questions about Tesla's first quarter performance.
Musk was scheduled to visit India during April 21 and 22, and was expected to meet Prime Minister Narendra Modi and announce plans to enter the India market.
His visit garnered a lot of attention with the Union government notifying a new electric vehicle manufacturing policy just a few weeks ago. The new policy allows the government to give duty concessions to electric car companies committing to make in India.
According to the earlier proposed plan, the Tesla CEO was supposed to be in India for 48 hours, during which he would meet the PM, space startups and business leaders.
While there's buzz about initiating Tesla sales in the country this year, Musk was anticipated to engage with startups during his two-day visit.
On April 10, Musk had confirmed his visit to India and his planned meeting with PM Modi. In a post on X, he wrote: “Looking forward to meeting with Prime Minister @NarendraModi in India."
In June last year, Musk had met Modi during the prime minister’s US visit. The Tesla CEO had then said he planned to visit India in 2024, while expressing confidence that the company will enter the Indian market soon.
Rohan Patel's departure
Rohan Patel, who looks after business development for Tesla, had announced his departure via a post on X (formally twitter) on April 15. It is said that Rohan was the key guy who had been in touch with senior Indian officials on behalf of Tesla/Starlink.
Patel’s tweet had raised eyebrows in some quarters in New Delhi, especially as the Union government was working on some policy changes that could have enabled Starlink business operations in India.
Ahead of Musk’s visit, the government on April 16 notified amended rules under the Foreign Exchange Management Act to allow up to 100 percent foreign direct investment (FDI) in some space sector activities.
With the latest development, sources say Tesla and Starlink’s troubled tryst with India is likely to take longer and may be resolved after the Lok Sabha elections get over.
2024-04-20T03:33:27Z dg43tfdfdgfd