“Unfortunately, Tesla's very serious responsibilities require us to delay our visit to India, but I look forward to visiting later this year,” Musk wrote on his X social media platform.
Musk's visit to India
Musk was scheduled to begin his visit on Sunday, two days after the start of India's national elections in which Modi was expected to win a third term. In New Delhi, Musk was expected to announce the construction of a new electric car factory worth $2 billion to $3 billion, after the government announced a policy of reducing high tariffs on imported cars for local investors, Reuters reported.
He was also expected to meet with directors of several space start-ups in New Delhi. Musk is awaiting regulatory approval from the Indian government to begin providing Starlink satellite broadband services in the country.
According to Reuters, the visit was to be related to the announcement of the electric vehicle (EV) manufacturer's plans to enter the South Asian market.
It was also expected that Musk in India would have an opportunity to reassure investors concerned about the decline in Tesla's shares and plans to cut 10%. its employees around the world.
Musk, as Reuters points out, faces difficult challenges, falling sales, growing competition from Chinese electric car manufacturers and the uncertain fate of Tesla's future key products. (PAP)
