Tesla boss and the richest man on the planet, Elon Musk, is currently stirring up trouble in economic and financial circles. After much controversy in the Twitter case, Tesla’s decision concludes more than a year of unproductive discussions with Indian government officials, car manufacturer first seeking to test demand by selling electric vehicles imported from its production facilities in the United States and China, at low rates. But the Indian government is pushing You are here commitment to domestic manufacturing before deducting customs duties, which can reach 100% for imported vehicles. Friday, Tesla shares provided recovery (+ 5.71% to $ 769.59). Shares had lost more than 23% over the previous six periods after all of Twitter’s weekly announcements.
Wrestling between Tesla and the government
As a result, Tesla suspended plans to import cars into India after Prime Minister Narendra Modi’s government failed to reach an agreement when it presented its budget and fiscal policy on February 1, sources added, who requested anonymity while the consultations were being held in private. You are here and a spokesman for the Indian government did not immediately respond to a request for comment.
Other projects are in the pipeline
In months, You are here has been searching for buildings to open exhibition halls and service centers in New Delhi, Bombay and Bangalore, but the project has also been suspended, two sources said.
You are here has also given additional responsibilities in other markets to some of its local team members. India’s head of policy and development, Manuj Khurana, has been responsible for “branding” in San Francisco since March, as shown on his LinkedIn profile.
Narendra Modi has tried to lure manufacturers as part of his ‘Make in India’ campaign, but his Transport Minister Nitin Gadkari said April would not be a ‘good proposal’ for. You are here importing cars from China to India. By taking this decision, Tesla is temporarily separating itself from the major market on the planet.