'Tesla Won't Manufacture In India Unless...': Elon Musk Puts Forth T&C For Govt — Check Details
Recently Tesla was ousted from the elite $200 billion club for the second time in a year after Tesla shares plunged almost 7 percent on Tuesday.
New Delhi: Tesla chief Elon Musk on Friday clarified that his car manufacturing company will not put up a manufacturing unit at any location where it is not allowed to first sell and service the cars.
Musk’s remark came on Twitter after a user had asked him on the microblogging site about Tesla’s plan to manufacture cars in India in future.
“Tesla will not put a manufacturing plant in any location where we are not allowed first to sell and service cars,” tweeted Elon Musk.
A while after Tesla’s way to launch in India seemed to clear with recruitment of key staff shouting showroom locations, the company was hit with a roadblock as negotiations with the Indian government to reduce import duties did not reach any favourable conclusion.
Tesla CEO Elon Musk has cited several challenges and Tesla has been vocal in wanting to get duties reduced.
Union transport minister, Nitin Gadkari, had recently said that it would not be a "good proposition" for Tesla to import cars from China to India.
Recently Tesla was ousted from the elite $200 billion club for the second time in a year after Tesla shares plunged almost 7 percent on Tuesday.
Tesla shares remain under the sell-off pressure due to which Elon Musk's net worth declined to settle at $192.7 billion, a drop of 5.40 per cent, the lowest levels since 26th August 2021, according to the news agency Bloomberg.
Tesla shares dipped to an 11-month low on Tuesday over a series of concerns from the electric-vehicle maker and its chief Elon Musk.
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