Ole Electric founder Bhaviash Aggarwal has expressed disappointment in Tesla‘s loss of interest in entering the Indian car market. Posting his remarks on X, formerly Twitter, the Indian entrepreneur reacted to a recent Bloomberg report that talks about Tesla stepping back on its plans to enter India. Reportedly, Tesla isn’t likely to ‘move forward with an investment in the country any time soon’.

Bhavish Aggarwal Reacts on Reports of Tesla Giving Up on its India Launch Plans

In a post on X, Aggarwal quoted Bloomerberg and said -“if true, this is Tesla’s loss, not India’s”. Furthermore, he said that the EV and lithium ecosystem are “gaining momentum quickly” and it might be a bit too late when Tesla finally reconsiders launching its Indian operations. His post reads: “If true, this is Tesla’s loss, not India’s. While the Indian EV and Lithium ecosystem is early, we’re gaining momentum quickly. It’ll be too late for Tesla when they look at India seriously again in a few years.”

The latest report on Tesla stepping back on its India launch plan is based on the Texas-based carmaker’s fluctuating capital reserve and Elon Musk’s indefinite postponement of visiting India. It may be noted here that Tesla has reported a second consecutive drop in its quarterly deliveries. The dwindling demand is said to have been the reason for cutting down of the staff. From the looks of it, the Cybertruck, which is the first all-new Tesla in many years, is facing lower-than-expected demand. Meanwhile, even the construction of Gigafactory Mexico is facing delays.

If true, this is Tesla’s loss, not India’s. While the Indian EV and Lithium ecosystem is early, we’re gaining momentum quickly. It’ll be too late for Tesla when they look at India seriously again in a few years. https://t.co/k7EsPGp9LP

— Bhavish Aggarwal (@bhash) July 4, 2024

Bloomberg reports that the Indian government has taken cognizance of the capital issues at Tesla that have led to the carmaker’s inability to earmark funds for an investment into India. It even adds that the government is now looking at Indian carmakers like Mahindra and Tata Motors to fuel the growth of India’s electric car industry.