Elon Musk, the CEO of Tesla and SpaceX, announced on social media that he has postponed his visit to India due to heavy obligations at Tesla. The trip was expected to include a meeting with Prime Minister Narendra Modi and potential investments in both Tesla and SpaceX's Starlink operations in India.
Musk had been scheduled to visit India from April 21-22, but announced the postponement on X on April 20. He expressed his disappointment at having to delay the trip but looked forward to visiting later in the year.
The decision comes after a tumultuous week for Tesla. The company announced layoffs affecting over 10% of its global workforce, and some employees received incorrectly low severance packages. Additionally, Tesla recalled almost 4,000 Cybertrucks due to a faulty accelerator pedal.
Despite these challenges, Musk remains optimistic about the potential for Tesla in India. The Indian government has expressed its support for Starlink's operation in the country and has lowered import taxes on electric vehicles from foreign carmakers that invest locally. A significant investment by Tesla could help tap into India's burgeoning electric vehicle market and counter slowing demand elsewhere.
Musk is also seeking permission for SpaceX's Starlink to operate in India, which would be its biggest market. The company has already received assurances from the Indian government that it will be able to start operating in the country as soon as the third quarter of this year.
The postponement of Musk's visit may impact Modi's appeal among voters in India, where investments from billionaires like Musk can burnish his image. The national elections in India are currently underway and are expected to take over a month to complete.
