'This is Tesla's loss, not India's': Ola Electric CEO on Musk ceasing talks with Indian govt officials

Ola Electric CEO Bhavish Aggarwal, in a recent post on X, said that it is Tesla's loss, not India's. His comments came after a report said that Tesla's executives had ceased communications with the Indian government. 

"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," Aggarwal said.

According to a Bloomberg report, Musk's team has not followed up with New Delhi officials after the billionaire postponed a visit to India in late April. 

The report said that Tesla is facing capital issues and does not plan to invest in India in the near future.

This waning interest in the Indian market coincides with Tesla's recent challenges, including a second consecutive drop in quarterly deliveries globally and increased competition in China. 

Additionally, Musk announced significant staff reductions in April. Tesla's first new model in years, the Cybertruck, has been slow to ramp up, and the construction of a new plant in Mexico has been delayed.

The report added that the Indian government now hopes domestic automakers like Tata Motors and Mahindra & Mahindra will drive the country's EV production.