Elon Musk cancels trip to India


Tesla cannot give Elon Musk a $56 billion compensation package despite a vote in support of the CEO's pay deal by the company's shareholders.

WASHINGTON: Elon Musk, Tesla chief and one of the world’s richest people, has postponed his trip to India.

The SpaceX founder and CEO was scheduled to visit India on April 21 and 22 to meet with Prime Minister Narendra Modi and announce plans to enter the Indian market. 

The billionaire blamed “very heavy Tesla obligations” for his decision.

“Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Elon Musk wrote on X.

Last week, Elon Musk, who also owns X (formerly Twitter), confirmed his meeting with PM Modi in India.

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“Looking forward to meeting with Prime Minister Narendra Modi in India,” he wrote on X.

Elon Musk was expected to announce an investment of 2-3 billion dollars, to build a factory in India.

Elon Musk had met PM Modi during the latter’s visit to the United States in June last year. The Tesla chief had discussed PM Modi, his plans to visit India in 2024 and Tesla’s plan to enter the Indian market and setting up the much-anticipated factory.

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