According to the Bloomberg News report, Tesla’s country head for India, Prashanth Menon, has resigned after nearly 9 years at the company. He is also stepping down as chairman of Tesla India’s board. The development comes just as Tesla is preparing to enter the Indian market after several years of delay.
With no successor announced yet, Tesla’s China team will temporarily handle India operations, according to sources cited by Bloomberg. The company has not made any official statement on the leadership change.
Tesla has been working on its India entry for some time. In March 2025, it signed a lease for a showroom in Mumbai. The company has also posted nearly 2 dozen job openings in India for roles such as store managers, service staff, and customer relationship managers.
Tesla is looking to begin by selling imported electric vehicles in India. Reports suggest that the company is waiting for clarity on proposed import duty cuts before finalising launch details. These discussions are part of a wider India-U.S. trade deal currently under negotiation.
Read more: Tesla Rejects Report of Board Seeking Elon Musk Replacement!
Globally, Tesla reported a 71% drop in net profit for the Q1 of 2025. The profit fell to $409 million, down from the previous year. Revenue dropped 9% year-on-year to $19.34 billion, missing the estimated $21.11 billion.
Operating income for the quarter was $399 million. Adjusted earnings stood at 27 cents per share. Automotive gross margin, excluding regulatory credits, declined to 12.5% from 13.6% in the previous quarter. The company also withdrew its full-year 2025 guidance due to uncertainties in demand and trade policies.
Tesla’s India entry remains in motion, with hiring and real estate developments ongoing. Leadership changes and global financial pressures are unfolding in parallel, as the company prepares to begin operations in a new market.
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Published on: May 9, 2025, 1:42 PM IST
Team Angel One
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