After April, when Elon Musk cancelled his India visit and the meeting with Prime Minister Narendra Modi citing 'very heavy' Tesla obligations", the investment plans of the American EV major in this country have remained stalled.
Top government officials confirmed on Thursday that Tesla had been silent on its proposed participation in the flagship scheme to promote investment in electric car manufacturing in India.
Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said the heavy industries ministry would finalise the guidelines for the EV manufacturing scheme. "They have more than one inquiry. It was meant to be a generic policy," Singh told reporters.
A Bloomberg report cited unnamed government officials to say that Tesla has capital issues and doesn't plan on pledging fresh investment into India in the near future. This comes in the backdrop of Tesla's second consecutive drop in quarterly deliveries globally and stiff competition in China. Tesla didn't respond to Bloomberg queries on the matter.
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