India’s Hopes for Tesla Investment Cool as Musk Ceases Contact

India doesn’t expect Tesla Inc. to move forward with an investment in the country any time soon after executives at Elon Musk’s carmaker stopped contacting them, according to people familiar with the matter.

Musk’s team hasn’t made any further inquiries with officials in New Delhi after the billionaire postponed a visit to India in late April, the people said, asking not to be identified because they’re not authorized to speak publicly. The government is given to understand that Tesla has capital issues and doesn’t plan on pledging fresh investment into India in the near future, they said.