Tesla, Inc.’s India plans did not quite materialize in the way the company’s outspoken chief executive officer Elon Musk may have hoped.
The intransigent stance of the Indian government on import duty cuts and its insistence on localizing production did not cut ice with Musk. Following the stalemate, Tesla put its India plans on the backburner and shifted the resources mobilized for the India expansion elsewhere.
Musk for one has not backed down even an inch. In a reply to a tweet inquiring whether Tesla will have a manufacturing plant in India in the future, Musk categorically said Tesla will not commit to setting up a manufacturing plant in any place, where it isn’t allowed to first sell and service its cars.
A Twitter user pointed out the vast potential that India offers. Just as Indian consumers skipped wired phones and moved straight into mobile phones, they could jump straight into the electric vehicles, he said.
Tesla stock closed Friday’s session 7.33 percent higher at $759.63, according to Benzinga Pro.
