Tesla has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi
The Global Times, a Chinese state-run newspaper, said the reported pushback on BYD's investment plan "will lead to a chain reaction and deal a blow to the overall confidence of Chinese companies in investing India."
Tesla did not respond to a request for comment on its talks with Indian officials. Musk had said in June that Modi was "pushing us to make significant investments in India, which is something we intend to do."Tesla wants to sell 20 million cars globally by 2030, up from 1.31 million in 2022, but faces hurdles to expanding its Shanghai factory.
"Tesla sees competition mainly with BYD, and both are expanding globally at great speed," said Gaurav Vangaal of S&P Global Mobility.
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