Amidst India’s high import duty levels and growing competition from Chinese EV brands, Tesla’s entry into the Indian market faces challenges. The new electric vehicle policy in India offers some incentives, but the company’s focus is on optimising capacity and addressing its disappointing Q1 results. The affordable car and localisation efforts make business viability crucial for Tesla. Moreover, the protectionist nature of India’s trade policies and limited FTAs pose additional hurdles for investors like Tesla.
Leading Indian automaker Mahindra & Mahindra announces the launch of its new SUV, XUV 3XO. The vehicle promises a combination of thrilling performance, cutting-edge technology, unmissable design, and unparalleled safety. Mahindra & Mahindra aims to cater to the aspirations of urban drivers and surpass expectations in all facets of SUV ownership. With SUVs gaining popularity in India, the company expects a positive response to its new offering.
Maruti Suzuki India (MSI) has signed a pact with the Haryana government to establish a second Japan-India Institute for Manufacturing (JIM) in Rohtak, Haryana.
Ola’s Aggarwal urges automobile companies to embrace renewable energy in order to survive in a changing market
The Indian automobile industry is optimistic about achieving record sales of 4 million cars this year, driven by robust demand and the upcoming festive season. Companies like Maruti Suzuki, Hyundai, Kia, MG Motor, and Mercedes-Benz have reported strong sales of both premium and new models, with SUVs contributing to the growth. Experts predict that the industry’s volumes may cross 3 million units by September and add an additional one million in the last quarter.
Production of the first set of advanced chemistry cell batteries in India is likely to commence by January 2024, Union Minister Mahindra Nath Pandey said on Tuesday. In May 2021, the government approved the PLI (Production Linked Incentives) scheme for manufacturing ACC (Advanced Chemistry Cell) batteries at an estimated outlay of Rs 18,100 crore.
With improved supply chain situation and positive economic sentiment, Volvo Car India anticipates a successful festival season for India’s automobile industry. The luxury car segment sales are expected to recover to the 2018 peak this year, and price parity between electric cars and ICE cars is gradually being observed. Volvo Car India has launched its first ground-up electric car, C40 Recharge, with bookings available online.
The Federation of Automobile Dealers Associations (FADA) has found a strong relationship between rural automobile demand and the output of the September monsoon. This article explores the correlation and discusses its potential impact on the automobile industry.
