Indian automaker Mahindra & Mahindra hopes that by 2030, half of its cars sold will be electric cars. The company’s ambitious plans to compete with Tesla were revealed by CEO Anish Shah, writes CNBC.
Mahindra is already making electric vehicles, although the electric vehicle market in India is just beginning to emerge. The country’s largest automaker, Maruti Suzuki, only sells vehicles with an internal combustion engine due to the high maintenance costs of electric vehicles. Shah believes that the spread of electric vehicles will be provided by three factors – subsidies, increased production efficiency and infrastructure development, in particular, the installation of charging stations.
Encouraging the shift to electric vehicles in the form of subsidies or tax cuts will not work right away in India, as fewer people own cars. A car for an Indian is a luxury item, Shah said. Nevertheless, in the long term, subsidies will help the introduction of electric cars, since it will reduce the cost of owning such a car, he is sure.
In late July, Tesla asked the Indian government to facilitate the import of electric vehicles. The company has proposed lowering federal customs duties on fully assembled electric vehicles by up to 40 percent. In August, the country’s energy and heavy industry minister rejected the idea of an American company, but promised to introduce electric cars in the country.
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source https://pledgetimes.com/indian-rival-tesla-reveals-ambitious-plans/
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