News on Medial

Why Elon Musk prioritized China over India

LivemintLivemint · 6m
Why Elon Musk prioritized China over India

Elon Musk's visit to China has sparked discussions in India after he canceled his planned trip to India and a meeting with Prime Minister Narendra Modi. Tesla has been facing challenges with its revenues and demand for electric vehicles. Musk's visit to China had a positive impact on Tesla's stock price following Beijing's approval for the rollout of its self-driving cars. China is a key market for Tesla, accounting for 40% of its sales last year. However, the Chinese market is competitive, with price wars and strong domestic rivals. India is also seen as a potential market for Tesla's global ambitions, given the growing demand for electric vehicles. The company may need to consider launching cheaper models to make inroads into the Indian market.

Comments

Download the medial app to read full posts, comements and news.