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Tesla will not manufacture in India unless it is allowed to sell, service cars: Elon Musk – ET Auto


Bengaluru:
Tesla will not make cars in India until it is allowed to sell in the market first, Elon Musk tweeted. Musk’s tweet was in response to a user who asked about the company’s India manufacturing plans.

“Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars,” he tweeted.

Tesla has hit a roadblock in its India entry plans as the government is not willing to reduce import duties on electric vehicles. The company has temporarily halted its plans to enter the Indian market.ET reported on May 5 that Tesla India employees have been reassigned to work for the larger Asia-Pacific region. There have been reports that the company has shifted its focus towards the Indonesian market and might even setup a plant there.

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Tesla shares have lost one third of their value since the billionaire disclosed his stake in Twitter in early April and sold $8.5 billion worth of Tesla stocks in a move seen to help finance his $44-billion Twitter deal.

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