New Delhi: Tesla CEO Elon Musk on Saturday confirmed that he will not visit India in April amid crucial Tesla quarterly results and will possibly visit the country later this year to announce his investment plans.
"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 Saturday.
The billionaire has to address five key issues during the conference call of Tesla on April 23, according to the latest report from leading investment firm Wedbush Securities.
The five critical concerns are: Strategies to reverse negative growth in China and pricing plans; provide clear 2024 goals and financial outlook; commit to launching Tesla Model 2 alongside robotaxis development; clarify AI initiatives and ownership concerns; and announce an AI day to outline strategy and monetisation, according to the report.
Last week, Musk had posted that he was looking forward to meeting Prime Minister Narendra Modi. The billionaire was scheduled to visit India during April 21 and 22, and was expected to meet PM Modi and announce plans to enter the India market. The SpaceX CEO was also set to meet representatives of Indian space companies during his India visit.
On his two-day visit, he was also expected to make a push for Starlink, a project by his company SpaceX, to offer high-speed Internet using a constellation of thousands of low Earth orbit satellites.
Musk has a key conference call with analysts about Tesla’s latest quarter (Q1) results, after the company reduced 10 per cent of its workforce, or around 14,000 employees — globally, IANS reported.
His upcoming visit to India comes weeks after the government announced a new electric vehicle policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla.
The Tesla CEO and PM Modi last met in New York in June 2023.
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