Will Donald Trump And Elon Musk's Feud Affect EV-Makers India Entry?
The escalating feud between Elon Musk and the President of the USA - Donald Trump, has sent ripples through the global business community, but its impact on Tesla's India ambitions appears minimal, for now. Once allies, Musk and Trump are now embroiled in a public spat over fiscal policies and personal grievances.
Musk criticised Trump's "One Big Beautiful Bill" for increasing the national deficit and cutting EV tax credits that are vital to Tesla. In retaliation, Trump threatened to sever federal contracts with Musk's companies, including Tesla and SpaceX. The conflict intensified with Musk suggesting that Trump is linked to Jeffrey Epstein, further straining their relationship.
Also Read: Tesla Model Y Testing In India Continues Ahead Of Launch- New Spy Shots
Earlier this year, India's Union Minister for Heavy Industries, H.D. Kumaraswamy, stated that Tesla is not interested in manufacturing vehicles in India but plans to open showrooms in Mumbai and Delhi. This approach allows Tesla to enter the Indian market without committing to local production, a strategy that may shield it from political uncertainties. However, Tesla will have to miss out on perks being offered under the Government of India's new policy for EV manufacturing.
While the Musk-Trump feud has led to significant financial repercussions for Tesla in the U.S., including a nearly 10% drop in stock value, its effect on Tesla's India plans remains to be seen.
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