The Reasons Why Elon Musk Postpones India Visit
- The Verge.
India – Tesla Chief Executive Officer (CEO) Elon Musk announced through X that he postponed to visit India to meet Prime Minister Narendra Modi.
The exact reasons behind the postponement of the visit remain undisclosed, with sources remaining tight-lipped. One official cautioned against reading too much intp such occurences.
However, Tesla Inc is gearing up to disclose its first-quarter financial results on April 23, following recent news of layoffs that led to a drop in shares. Analysts view the upcoming earnings report and subsequent conference call as a critical juncture for Tesla and its CEO Elon Musk.
The company finds itself at a crossroads amid a significant decline of over 40 per cent in its stock value this year. Challenges over the past months have ranged from declining deliveries to leadership controversies centered around Musk.
Elon Musk.
- Stars and Stripes
Recent concerns on Wall Street have arisen over Tesla's departure from mass-producing the anticipated low-cost Model 2 vehicle in favour of focusing on autonomous driving and robotaxis.
Experts emphasise the importance of Musk providing realistic and transparent guidance on growth, margins, and free cash flow during the April 23 announcement. Failure to do so would perpetuate uncertainty and leave analysts guessing.
There is a pressing need for Tesla to clarify its stance on artificial intelligence initiatives and dispel uncertainty surrounding their future within the company.
Musk previously hinted at potentially relocating these projects unless granted a 25 per cent ownership stake in Tesla.
Regarding India, top government officials said that fresh dates are being negotiated for Elon Musk's potential visit to India in September-October.
On his now cancelled April 21-22 visit to India, Elon Musk was supposed to meet Prime Minister Narendra Modi and announce plans to enter the Indian market.
The government has rolled out a red carpet with the announcement of a New Electric Vehicle policy and initial approval for Musk's Starlink project.
However, the final authorisation rests with the Ministry of Home Affairs, given the stringent safety and scientific protocols required for establishing a Satellite Communications business in India.
Officials further noted that due to the Model Code of Conduct in place due to Lok Sabha elections, no formal announcement regarding Starlink would have been made, as reported from Indiatoday site.
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