According to Bernstein analysts, Tesla has not signed up for India’s new EV policy, which offers a lower 15% duty for vehicles over $35,000 in exchange for a commitment to local manufacturing.

The Wall Street Journal, citing people familiar with the situation, on Tuesday reported that Troy Jones, who on his LinkedIn page is described as a vice president of sales and service in North America, has left Tesla after a 15-year run with the EV maker. Tesla did not respond to a request for comment in time for publication.

Tesla’s Model Y launch in India has set the stage for a major auto sector reset, fueled by the company’s planned Gigafactory, EV rollout, and a ₹20,000 crore investment.  Elon Musk’s EV giant has launched its first showroom in Mumbai and is expanding to New Delhi later this month,

Tesla will open its first showroom in India on July 15th, as India's import duties on EVs were reduced, boosting Musk's ambitions.

Tesla stock plunged nearly 8% after Elon Musk launched the American Party, sending shockwaves through Wall Street. The stock, once flying high at over $488 in December after Trumps re-election, has now dropped 35%,