TSLA Tesla Inc

By Denny Jacob

--Tesla Inc. has paused plans to sell electric cars in India, Reuters reported, citing three people familiar with the matter.

--The electric vehicle maker abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, the report said.

--The decision comes after Prime Minister Narendra Modi's government did not offer a concession on tariffs after more than a year of deadlocked talks with government representatives, Reuters reported.

--Strong demand for Tesla's vehicles elsewhere and the standoff over import taxes prompted the company's strategy to shift, the report said.

Full story at https://www.reuters.com/business/autos-transportation/exclusive-tesla-puts-india-entry-plan-hold-after-deadlock-tariffs-sources-2022-05-13/

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 13, 2022 11:21 ET (15:21 GMT)

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