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On Saturday, Tesla's CEO Elon Musk teased the near-term rollout of Full Self-Driving (FSD) in China and announced a delay in his awaited visit to India, attributing it to pressing Tesla commitments.
FSD in China: An Impending Reality?
Musk hinted that the electric vehicle (EV) manufacturer might provide FSD capabilities to Chinese consumers in the near future. He responded to an X user's inquiry regarding Tesla's much-awaited FSD launch in China by stating:
Despite customer pressure, the Musk-led EV manufacturer has yet to introduce FSD in China, despite having introduced it four years ago.
India Visit Delayed as Musk Tackles Tesla Priorities
In addition to these developments, the Tesla CEO could not meet with Indian Prime Minister Narendra Modi due to scheduling conflicts. The billionaire cited substantial duties at Tesla as the cause for the delay and announced his intention to reschedule the visit to India later this year.
Musk wrote on his X social media platform:
Reuters reported that four individuals who were aware of the situation confirmed the postponement. The itinerary had intended to encompass the disclosure of the electric vehicle (EV) manufacturer's intentions to penetrate the South Asian market.
Musk was expected to announce an investment of $2 billion to $3 billion to create a factory in India after the government approved a scheme that lowers hefty tariffs on imported automobiles if companies invest locally.
Tesla's Quarterly Outlook: Analysts' Tough Questions Ahead
The announcement would have been especially timely, given months of falling stock prices and recent news on April 15 that the company would be reducing its global workforce by more than 10%. Tesla's planned expansion into India may have provided a critical opportunity to boost investor confidence during a difficult time.
Musk is anticipated to face harsh questions from analysts when Tesla reports quarterly results on Tuesday, including concerns about declining sales, increased competition from Chinese EV makers, and the fate of important future Tesla projects.
Photo: Bram Van Oost/Unsplash
