Elon Musk is not moving forward with Tesla’s investment in India as executives have stopped communicating with Indian officials, Bloomberg reports. Musk’s team has not followed up since he postponed a planned visit to India in late April, and Tesla is facing financial challenges, delaying new investments in the country.
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This news comes as Tesla reports a second consecutive drop in global deliveries and increased competition in China. In April, Musk announced major staff cuts and slow progress with the Cybertruck. He also canceled a visit to India, which included a meeting with Prime Minister Narendra Modi, due to pressing issues at Tesla. However, officials stated Tesla could still benefit from India’s new import tax policy if Musk re-engages.