Elon Musk Gives Congratulations to PM Narendra Modi on Lok Sabha Election Win, Indicates Tesla Entry in Country

Elon Musk, the chief of American electric vehicle (EV) maker Tesla, has congratulated acting Prime Minister Narendra Modi on the victory of the Bharatiya Janata Party and its alliance in the Lok Sabha elections. He has said that he is looking forward to his companies doing business in the country in a better way.

Prime Minister Modi has thanked Musk for this. Modi said that good conditions will continue to be provided for business in the country. Musk has written in a post on the social media platform X, “Congratulations to Narendra Modi on winning the world’s largest democratic election. I look forward to your companies doing great business in India.” In April this year, Musk postponed his visit to India. However, he had said that he would wait to visit the country this year. There was speculation that Musk could announce the start of Tesla’s business in the country during this visit. Tesla plans to set up a factory in the country.

Difficulties are increasing for Tesla in China, its biggest foreign market. Shipments from the company’s Shanghai factory in China have fallen for the third time this year. Competition for Tesla in China is constantly increasing and sales of companies like BYD have increased rapidly. According to data from the China Passenger Car Association, Tesla’s shipments in May fell 6.6 percent year-on-year to 72,573 units. This includes sales in China and exports. However, this is an increase of 17 percent compared to April. Sales of new energy passenger vehicles in China increased by about 35 percent to about 9,10,000 units in May.

Despite reducing the prices of electric cars in the last few months, Tesla’s sales are not increasing. Due to this, Musk has decided to lay off employees in the company. Since the beginning of this year, about 6,000 workers have been laid off in the company. Tesla has laid off workers from software, service and engineering departments. This is a sign of a major change in the company’s strategy. Musk believes that this will reduce Tesla’s costs and its international business can be balanced.