Akshata Sharma
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It seems that billionaire Elon Musk is hesitant about Tesla entering the Indian market.
Media reports indicate that the electric carmaker's executives have ceased communications with the Indian government.
According to Bloomberg, Musk's team has not followed up with New Delhi officials after the billionaire postponed a visit to India in late April.
Tesla is facing capital issues and does not plan to invest in India in the near future.
This waning interest in the Indian market coincides with Tesla's recent challenges, including a second consecutive drop in quarterly deliveries globally and increased competition in China.
Additionally, Musk announced significant staff reductions in April. Tesla's first new model in years, the Cybertruck, has been slow to ramp up, and the construction of a new plant in Mexico has been delayed.
The Indian government now has high hopes for domestic automakers like Tata Motors and Mahindra & Mahindra to drive the country's EV production, the report added.
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