Too Bad For Elon Musk: Ola's Bhavish Aggarwal Says Dropping Investment Plans Will Be Tesla's Loss, Not India's

Ola co-founder Bhavish Aggarwal has commented on the reports of Tesla Inc. potentially suspending its investment plans in India, stating that it would be Tesla’s loss, not India’s.

What Happened: In response to a tweet discussing Tesla’s reported decision to halt its investment plans in India, Aggarwal, expressed his views on the matter on Friday afternoon. He stated, “If true, this is Tesla's loss, not India's. While the Indian EV and Lithium ecosystem is early, we're gaining momentum quickly. It'll be too late for Tesla when they look at India seriously again in a few years.”

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The tweet was in response to a report suggesting that Tesla has ceased communication with Indian officials, leading to speculation that the company’s investment plans in the country may be on hold.

Tesla’s team has not made any further inquiries with officials in New Delhi since Elon Musk postponed his visit to India in late April. The government has been led to believe that Tesla is facing capital issues and does not plan to pledge fresh investment into India in the near future.

The cooling of interest in India comes amidst Tesla's reported second consecutive drop in quarterly deliveries globally and increased competition in China.

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Posted In: Social MediaTechGeneralBhavish Aggarwalelectric vehiclesOlaTesla