Elon Musk’s Tesla has resumed its search for showroom space in New Delhi, two sources told Reuters, in the first sign it is rethinking entering the Indian market after putting its investment plans on hold earlier this year.
Musk said in April he would meet Indian Prime Minister Narendra Modi during a trip where he was to potentially announce an investment of $2-3 billion in India. However, he called off his visit at the last moment after Tesla decided to sack 10 per cent of its staff amid falling sales.
Tesla, which had paused its search for a showroom in India in recent months, is now in early-stage talks with DLF to help secure space in the capital region, said the two sources, who have direct knowledge of the situation. A third source said it is not certain that Tesla’s talks with DLF will lead to a deal and the electric vehicle giant is also in discussions with others.
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