Elon Musk's Tesla has apparently halted its investment plans in India, after the billionaire canceled his planned visit to the country in April, Bloomberg reported.
According to the report, Tesla has not reached out to New Delhi since the South African businessman delayed his trip.
Sources which remained anonymous told Bloomberg that Tesla is not planning to make fresh investments in India soon, due to the company's current capital issues.
Tesla reports drop in deliveries
The report comes at a time when Tesla reported ts second consecutive quarterly drop in global deliveries.
Moreover, it has been reported that the company is also facing significant competition from China.
To combat issues surrounding the company, Musk had also announced staff reductions.
Additionally, Tesla's most celebrated vehicle Cybertruck is also facing delay in deliveries due to a windshield wiper issue.
It has been previously reported that Musk will visit India and meet Prime Minister Narendra Modi in April, where he was supposed to discuss local investment plans, after India reduced taxes on the import of electric vehicles.
Despite this development, Indian officials said that Tesla is welcome to invest in India under the new import tax policy if it decides to re-engage.
Controversies surrounding adult graphic content
Earlier in June, Elon Musk's X, previously Twitter, was a debating point among netizens after the online platform tweaked its rules to formally allow users to post adult and graphic content, with some riders.
After updating its existing policy, X said that users may share consensually produced and distributed adult nudity or sexual behaviour, "provided it's properly labelled and not prominently displayed."
According to the social media platform, users should be able to create, distribute, and consume material related to sexual themes as long as it is consensually produced and distributed.
Sexual expression, whether visual or written, can be a legitimate form of artistic expression, said the platform.
