regular-article-logo Monday, 04 December 2023

Billionaire Elon Musk says he’s not stepping down as Tesla CEO

'We’ll try a little advertising and see how it goes'

Reuters Austin (US) Published 18.05.23, 04:40 AM
Elon Musk

Elon Musk File image

Elon Musk on Tuesday dismissed speculation that he might step down as Tesla’s CEO and told the company’s annual shareholders meeting that the electric car and solar panel company would start doing some advertising.

“Say it ain’t so,” one shareholder asked Musk about stepping down as Tesla’s leader. “It ain’t so,” he replied without further discussion.


When another shareholder suggested that Tesla try advertising, Musk said he is open to it. “This has some merit,” he said to the shareholder at the meeting at Tesla’s factory site near Austin Texas.

“We’ll try a little advertising and see how it goes.”

India plans

Tesla Inc is exploring the possibility of setting up a manufacturing unit in the country, ahead of Prime Minister Narendra Modi’s visit to The US.

Senior executives of the EV giant met officials of the PMO, the road transport and heavy industries ministry, sources said.

A meeting has been slotted with road transport minister Nitin Gadkari on Wednesday.

The sources said the EV giant was keen on setting up manufacturing facilities in the country and was exploring the kind of incentives the government can offer the company.

While Tesla did not discuss lower taxes on imports with officials, it proposed a new factory, without specifying a location or investment, the sources said.

Analysts said Tesla is looking at India and Indonesia for setting up facilities. Indonesia has a headstart as it has the world’s largest nickel reserves, used extensively in batteries. AP; With inputs from our Delhi Bureau


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