India has been striving to become a global manufacturing hub, having successfully invited major companies such as Apple to set up as well as expand production in the country.

To further bolster its manufacturing prowess, the South Asian nation has been eyeing Tesla to set up its base in the country. And the carmaker that has appeared reluctant for long is now signaling interest in the market as the Indian government attempts to welcome it by implementing a new EV tariff policy.

Tesla is reportedly recruiting and scouting showroom locations in the country, following a meeting between Indian Prime Minister Narendra Modi and Tesla CEO Elon Musk earlier this month. 

“One thing is for sure, Tesla is coming to India based on the recent news, and the government is also very serious about it,” Puneet Gupta, Director for the Indian automotive market at S&P Global Mobility, told CNBC.

India introduced an EV policy last year that proposes to lower the import duties on EVs to 15% from about 70%, with the government set to start accepting applications under this policy before March-end, according to domestic news agency IANS.  

This relaxation only applies to premium EVs priced at over $35,000 and requires investments totaling nearly $500 million and long-term plans to set up local manufacturing.

The EV policy represents a targeted move to appeal to Tesla’s business interests, signaling India’s readiness to support EV manufacturing, Ammar Master, a South Asia director of Automotive at GlobalData, told CNBC. 

“The Indian government has been proactive in its attempts to lure Tesla into establishing its manufacturing base in India,” he said. 

The automaker, however, faces several headwinds to breaking into the world’s third-largest auto market.

It’s unclear if Tesla’s entry makes sense under India’s investment scheme, with any plans the automaker might have likely to be rolled out slowly and in a measured way due to several entry barriers, Gupta and other analysts said. 

Additionally, geopolitical barriers may influence Telsa’s decision to produce cars in India under the new Donald Trump administration. In an interview alongside Tesla CEO Elon Musk last week, President Trump said that Tesla manufacturing in India would be “very unfair.” 

The company has also been working on completing the production of manufacturing plants in Germany and Texas. 

Some local media sources in India have reported that government may further tweak the EV policy to attract Tesla considers the market. 

“Even if they commit to the current proposal, it will be after six months or so,” added Gupta.

However, while the Indian EV market remains small, getting a foothold there could be a valuable endeavor for Tesla as it looks for new markets amid intense competition with Chinese EV makers such as BYD. 

“With the current momentum, we project that Passenger BEV sales in India will reach 1 million units by 2030, accounting for 20% of total sales,” said GlobalData’s Ammar Master. 

Super Micro Computer reported its delayed financial results on Tuesday just in time to meet the Nasdaq’s listing deadline. Shares of the server maker popped 22% in extended trading after the filing.

“In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at June 30, 2024,” BDO, the company’s auditor, wrote in the filing, adding that the results are “in conformity with accounting principles generally accepted” in the U.S.

Super Micro filed updated and audited financials with the U.S. Securities and Exchange Commission for its fiscal 2024, ending in June, and the first two quarters of the company’s fiscal 2025. The filing reduces any near-term possibility that the server maker could be delisted from the Nasdaq, an overhang that had weighed on Super Micro’s stock price.

“The Company has received correspondence from the Nasdaq staff that the Company has regained compliance with the filing requirements, and the matter is now closed,” Super Micro said in a press release.

Last year, after the company delayed its annual report, it lost its auditor, Ernst & Young, citing governance issues. Super Micro had until Tuesday to become current and file audited financials with the SEC.

Super Micro said in a note from management as part of the filing that it had identified material weaknesses in internal controls over financial reporting, including IT issues, a lack of documentation over manual journal entries and insufficient controls to address segregation of staff duties. Super Micro said that it is hiring additional accounting and audit employees, as well as upgrading its IT systems.

Super Micro also said in Tuesday’s filing that a special committee of its Board overseeing its financial statements did not believe that EY’s resignation was “supported by the facts” examined by the committee.

In December, Super Micro said a review found “no evidence of misconduct.” At the same time, it removed its former chief financial officer, David Weigand. The company has not named a new CFO.

Still, the business has been growing rapidly because of soaring demand for Nvidia’s graphics processing units, or GPUs, which are used to develop artificial intelligence. Super Micro builds systems around Nvidia’s GPUs, and Elon Musk’s xAI is a customer.

According to the company’s updated and audited financials, Super Micro’s sales more than doubled in its fiscal 2024 to $14.99 billion.

Super Micro said it still faces risks related to its late financial reports, including litigation, reputational harm, and potentially lower credit ratings.

The stock has rebounded so far this year from a brutal last nine months of 2023. Before Tuesday’s postmarket surge, it was up 52% so far in 2025.

Workday, a maker of human resources and finance software, reported better-than-expected quarterly results on Tuesday. The shares popped more than 10% in extended trading.

Here’s how the company did in comparison with LSEG consensus:

• Earnings per share: $1.92 adjusted vs. $1.78 expected
• Revenue: $2.21 billion vs. $2.18 billion expected

Revenue increased 15% year over year in the quarter that ended on Jan. 31, according to a statement. Net income fell to $94 million, or 35 cents per share, from $1.19 billion, or $4.52 per share, in the same quarter a year earlier.

“The prior year period benefited from a $1.1 billion release of the valuation allowance related to U.S. federal and state deferred tax assets,” Workday said.

The company is seeing greater demand for artificial intelligence tools.

“In fact, AI is front and center in every conversation I have with customers, prospects and partners. They want to move beyond incremental productivity gains,” CEO Carl Eschenbach said on a conference call with analysts. “They’re also looking for ROI that helps them drive growth back into their business,” Eschenbach added.

Around 30% of Workday’s expansions with existing clients drew on at least one AI product, in line with the previous quarter, Eschenbach said. Additional AI products will become available over the next year, he said.

The rise of the Department of Government Efficiency creates opportunity for Workday, which has focused more on federal sales over the past year and a half, Eschenbach said.

“The systems they have, specifically ERP, HCM, or financial systems, are very antiquated,” he said. “In fact, the majority of them are still on premises, which means they’re inefficient. And as we think about DOGE and what that could potentially do going forward, if you want to drive efficiency in the government, you have to upgrade your systems,” the CEO added.

After becoming Workday’s sole CEO last year, he said the company has hired Google Cloud executive Gerrit Kazmaier to be president of products and technology. Sayan Chakraborty, who currently holds that title, will retire after being at Workday for about a decade.

During the quarter, Workday announced the hiring of former UiPath CEO Rob Enslin as its new president and chief commercial officer. Workday also said it would use AI to summarize employee feedback in its Peakon product.

The company called for a 28% adjusted operating margin on $2.05 billion in subscription revenue for the fiscal first quarter. Analysts polled by StreetAccount had expected an adjusted margin of 26.7% and $2.06 billion in revenue.

For fiscal 2026, Workday now sees an adjusted margin of 28%, with $8.8 billion in subscription revenue, implying 14% growth. That is slightly higher than the forecast management gave in November.

As of Tuesday’s close, Workday shares were flat year over year, while the S&P 500 index was up 1%.

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