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Tesla Faces India Manufacturing Setback Amid EV Strategy Confusion
Tesla Faces India Manufacturing Setback Amid EV Strategy Confusion
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Tesla’s stock dipped 2.42% to $338.09 as India’s government confirmed the automaker has no plans for local EV production despite newly reduced import duties. The policy slashes tariffs to 15% for manufacturers investing $500M domestically—an opportunity embraced by Mercedes, Hyundai, and Volkswagen, but not Tesla.
Internal contradictions emerged as Elon Musk denied canceling the $25K Model 2 while redirecting focus toward robotaxis and stripped-down existing models. April’s earnings promised affordable vehicles, but specifics remain unclear, exacerbating investor uncertainty.
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