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Elon Musk Plans to Run Tesla Cars on Indian Roads in 2020

Tesla registered revenue of $6.3 billion — a significant improvement from Q2 last year when it had $4 billion in revenue

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Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

In some good news for Tesla’s Indian fans, Elon Musk has put a timeline for the electric car to enter the country. In a recent interaction with the students from IIT Madras, the Tesla CEO said the car may run on the bumpy Indian roads in 2020.

The Avishkar Hyperloop team from IIT Madras participated in the finals of “SpaceX Hyperloop Pod Competition 2019”, a global competition organized by the American aerospace manufacturer and space transportation company, on July 21.

The team asked Musk when he is planning to bring his company Tesla to India.

“To which, Musk said it is probably going to happen in a year’s time,” IIT Madras said in a statement on Friday.

Tesla CEO Elon Musk has been moving back and forth on his India dream for couple of years and is unable to take the next big step.

Breaking his silence over India plans, Musk tweeted in March this year that he would love to be in the country in 2019 or next year.

“Would love to be there this year. If not, definitely next! India,” Musk tweeted to a user.

Musk has blamed the government’s policies for giving up on his India dreams. He also blamed the FDI norms for the delay in the electric car maker’s entry into the Indian market.

“Would love to be in India. Some challenging government regulations, unfortunately,” Musk had tweeted.

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A sales staff chats with a customer at a Tesla store near a poster announcing orders of the Model 3 electric cars in Beijing, China, Monday, Jan. 7, 2019. VOA

Earlier this year, Tesla’s Indian-origin Chief Financial Officer Deepak Ahuja announced his retirement from the firm, bringing Musk’s India dream to a halt again.

Tesla was expected to enter India with the Model 3 that sells for nearly $35,000.

In 2015, Prime Minister Narendra Modi visited Tesla headquarters at Palo Alto, California and met Musk who gave Modi a tour of the company’s electric car plant.

In January this year, Musk laid the foundation of Tesla Gigafactory in Shanghai — the first-ever outside the US — that is expected to produce 500,000 electric vehicles per year and double the production capacity.

Gigafactory Shanghai continues to take shape, and in Q2, Tesla started to move machinery into the facility for the first phase of production there.

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Moving Tesla cars to India would be easy from the Gigafactory Shanghai once it starts operations.

Despite delivering a record 95,200 cars in the second quarter (Q2) of 2019, Tesla reported a net loss of $408 million for the quarter that ended June 30.

Tesla registered revenue of $6.3 billion — a significant improvement from Q2 last year when it had $4 billion in revenue. (IANS)

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Top Investor of Tesla Wants Elon Musk to Step Down as CEO

Earlier in February, the SEC again held Musk in contempt of court for allegedly violating a previous public disclosure settlement

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Visitors inspect Tesla electric cars at Brussels Motor Show, Belgium, Jan. 18, 2019. VOA

A top investor in the electric car maker Tesla has stressed that Elon Musk should step down as CEO as his irresponsible tweets can do the company more harm than good.

James Anderson from the UK-based investment management firm Ballie Gifford, which holds a 7.5 per cent stake in Tesla, told a German magazine that he “does not think Elon needs to be CEO”.

“His micro-management also includes the desire to speak to the stock market and the world in ways we do not necessarily consider helpful,” Anderson, who knows Musk personally, told Germany’s Manager magazine on Thursday.

His comments referred to Musk’s fondness for controversial midnight tweets that has already forced him to step down as Tesla Chairman.

Musk reached a settlement with the US Securities and Exchange Commission (SEC) over his controversial Twitter activities in April, agreeing to have more specific oversight on his tweets about the company.

Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

According to the settlement, all tweets from Musk about Tesla’s financial health, sales or delivery numbers would have to be pre-approved by a company lawyer.

The SEC sued Musk last year as well for making fraudulent statements after he tweeted in August 2018 that he had “funding secured” to take Tesla private at $420 per share.

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The parties later settled and Musk agreed to step down as Chairman and have the company’s lawyers pre-approve written communications, including tweets with material information about the company.

Earlier in February, the SEC again held Musk in contempt of court for allegedly violating a previous public disclosure settlement. (IANS)