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Tesla opens in India as stock price and sales decline globally - Rest of World
The company faces an uncertain future in the world’s third-largest auto market.
Rising competition along with Musk’s support of the U.S. government and far-right leaders in Europe are among the reasons for Tesla’s poor performance, which led to an $800 billion erosion in its market capitalization. Musk’s electric cars will initially be “a status symbol for fairly well-off, maybe tech-oriented, and business-anchored crowd in the large cities,” David Bach, president of the International Institute for Management Development in Switzerland, who has studied Tesla’s global expansion, told Rest of World. The existing design of Tesla’s cars is ill-suited to India’s uneven roads, experts said, as most of its models have low clearance, which means the vehicles’ bottommost part is close to the ground.
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