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      Electric 3W / Rickshaw Sales Jan 2024 – Mahindra, Bajaj, Piaggio, YC, Saera

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      Rickshaw Sales Jan 2024The electric three wheeler segment has clocked a 54.45% YoY growth in terms of retail sales in January 2024 led by the Mahindra GroupAs per a list released by Federation of Automobile Dealers Associations (FADA), the electric three wheeler segment in India is growing by leaps and bounds. This segment, which includes both passenger e-rickshaws and cargo three wheelers has witnessed double digit YoY growth in January 2024, however, on a MoM basis sales dipped by 7.33 percent. Despite these lower MoM sales, the segment itself continues on a favourable vein and shows strong potential in the future.Electric Three Wheeler Retail Sales January 2024Following our earlier reports on electric two wheeler and electric car retail sales in January 2024 we now assess growth across the electric three wheeler segment. Increased awareness, coupled with large-scale growth across e-commerce and food deliveries has boosted sales for this eco-friendly, zero emission and cost savings on fuel. A recent study indicated that electricity and service costs works out to Rs 1.3/km for electric three wheelers as against Rs 5/km for diesel powered vehicles relating to a Rs 3-4/Km saving.Electric 3W / Rickshaw Sales January 2024There has been a surge in demand for electric three wheelers / Rickshaw in recent months. New product launches that boast of improved quality, offer enhanced features and above all are reasonably priced, has made these products more attractive to buyers. Electric three wheeler retail sales stood at 53,298 units in January 2024, up 54.45 percent when compared to 34,508 units sold in January 2023. It was however a MoM decline by 7.33 percent from 57,511 units sold in December 2023 wherein almost every electric three wheeler OEM has posted lower sales except for Mahindra Reva, Piaggio and Bajaj Auto.Mahindra Group led the segment with 4,682 units sold in the past month, up 56.85 percent over 2,985 units sold in January 2023. MoM sales dipped 8.27 percent from 5,104 units sold in December 2023. Mahindra Last Mile Mobility (MLMM), made up most of these sales with 4,271 units sold last month. The company lineup includes products such as the Treo Plus, Treo Yaari and e-Alfa Super for passenger transport while in the goods transport segment there is the Zor Grand, Treo Zor and e-Alfa cargo.Electric 3W / Rickshaw Sales Jan 2024 vs Jan 2023 – YoY ComparisonAt No. 2 was YC Electric with 3,375 units sold in January 2024, up 48.35 percent over 2,275 units sold in January 2023. MoM sales dipped by 11 percent from 3,820 units sold in December 2023. The electric lineup in the passenger segment includes Yatri Super, Yatri Deluxe and Yatri and E-Loader and Yatri Cart for commercial use. Saera Electric has also posted double digit YoY growth at 34.88 percent in January 2024 with 2,359 units sold, up from 1,749 units sold in January 2023. MoM sales dipped 11.08 percent from 2,653 units sold in December 2023.Electric 3W / Rickshaw Sales Jan 2024 vs Dec 2023 – MoM ComparisonPiaggio, with an electric three wheeler / Rickshaw lineup of two models that include the Ape E-City FX Max passenger carrier and Ape E-Xtra FX Max cargo carrier, has seen both a YoY and MoM improvement in sales. With 2,079 units sold in January 2024, it related to a 92.50 percent YoY growth from 1,080 units sold in January 2023 and was up 1.12 percent over 2,056 units sold in December 2023.Dilli Electric sales were higher by 34.43 percent on a YoY basis to 2,007 units sold last month from 1,493 units sold in January 2023 while it fell by 12.36 percent over 2,290 units sold in December 2023. Bajaj Auto, a relatively new entrant into the electric three wheeler segment with the Bajaj RE E-Tec 9.0 passenger EV and Maxima XL Cargo E-Tec 12.0 introduced in June 2023, has seen a 25.02 percent MoM growth to 1,579 units sold in January 2024 from 1,263 units sold in December 2023.Electric Three Wheeler OEMs That Posted Double Digit YoY GrowthThe list also included several other electric three wheeler OEMs that have each seen double digit improvement in sales on a YoY basis. There was Hotage Corporation (1,183 units) with a 64.31 percent YoY growth, Unique International (1,114 units) with 31.83 percent YoY growth and Energy Electric (1,044 units) relating to 72.56 percent YoY growth.Lower down the list was also Champion Poly Plast (993 units), SKS Trade (909 units) and Alfine Industries (883 units). There are other electric three wheeler OEMs that contributed 29,976 units to retail sales in the past month relating to a 56.15 percent YoY growth over 19,197 units sold in January 2023 while MoM sales dipped 5.25 percent over 31,636 units sold in December 2023. More

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      Mahindra XUV Coupe EV Spied In Ladakh Next To Alto, Dzire – Launch In 2025

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      Mahindra XUV Coupe SpiedExpected to be around 4,790 mm long, Mahindra XUV coupe has a powerful, dynamic road presenceTo ensure its dominance in an electrified era, Mahindra is working on its next-gen XUV.e and BE range of electric SUVs. All these SUVs will be based on the new INGLO platform. Test mules have been spotted frequently and the latest sighting is that of XUV.e9 from Ladakh, where it was spotted by automotive Ravneesh. It can be seen parked in between the Maruti Dzire and Maruti Alto.Mahindra XUV.e9 – Key featuresXUV.e9 is primarily an electric version of the upcoming Mahindra XUV700 Coupe or XUV800. The coupe SUV instantly gets your attention with the sloping roofline. Its curvy, aerodynamic profile exudes confidence and sophistication, something that’s just not possible with the boxy profile of traditional SUVs.Mahindra XUV Coupe Spied Mahindra had recently filed a design patent for XUV.e9, which reveals features such as a closed front panel, sleek C-shaped DRLs, full-width LED light bar, sharp LED headlamps and chiselled bonnet. Side profile has sporty alloy wheels, circular fenders and ORVMs with integrated turn signals. It is likely that the ORVMs will have cameras to support the 360° view. While the front doors have flush-type handles, the rear door handles are mounted on the C-pillar.At rear, the SUV has shark fin antenna, split aero rear spoiler, wraparound tail lamps, prominent bumper and fake air vent-type elements. XUV.e9’s coupe profile is not just about aesthetics. It also makes the vehicle more efficient by reducing drag. Wheels too have aerodynamic properties. These features will help achieve a higher range for XUV.e9.Mahindra XUV Coupe SpiedMahindra XUV.e9 interiorsWith multiple bestselling SUVs, it is apparent that Mahindra has consistently focused on customer delight. The approach will be the same for the upcoming electric SUVs. Mahindra is looking to enhance the user experience with a multitude of segment-first features.Mahindra XUV Coupe SpiedFor example, XUV.e9 will have a triple-screen setup that will cover almost the full width of the dashboard. Along with the touchscreen and instrument cluster, the third screen will be for the front passenger. The cockpit section will be truly transformed with the interconnected 3-screen layout.Mahindra is also expected to debut a new steering wheel with backlit logo for its born-electric SUV range. It is likely to be similar to that of new-gen Tata cars. Upcoming Mahindra electric SUVs can also have a fixed glass roof top. The cabin could get special features to ensure the best visual outcomes with the natural light flowing from the roof.Mahindra XUV Coupe SpiedMahindra XUV.e9 performanceBoth RWD and AWD options will be available with Mahindra XUV.e9. The SUV will have the INGLO platform that has significant optimizations across performance and efficiency. Based on the variant, the battery capacity could be in the range of 60 kWh to 80 kWh. Range is expected to be around 500 km. As for the top speed, Mahindra has already shared a teaser showing XUV.e9 touching 200 km/h in a track environment. More

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      Electric Car Sales Jan 2024 – Tata, MG, Mahindra, Hyundai, Kia, BYD, Mercedes, BMW, Audi

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      New Tata Punch EV. Image – Shubhadip Singha  Optimism continues to rise in the electric passenger vehicle segment which has posted significant increase in demand in January 2024The electric car segment has been seeing increased demand in India. New model launches have spurred up sales in this segment to a great extent. Even as the Government of India is continually introducing new and more favourable policies, buyer awareness concerns are also rising, while improved battery technology is slowly but surely alleviating customer’s fears of range and performance.Electric Car Sales Jan 2024Boosted by new product launches, the electric car segment improved in January 2024 showing both YoY and MoM growth. Sales stood at 8,165 units in the past month, a 136.84 percent YoY growth over 3,447 units sold in January 2023. It was also a 13.07 percent MoM growth over 7,220 units sold in December 2023.Electric Car Sales Jan 2024Tata Motors, that also has the highest number of electric offerings in its portfolio, was the No. 1 electric PV OEM. Retail sales in the past month stood at 5,591 units to command a 68 percent share in this segment. This was a 125.26 percent YoY growth from 2,482 units sold in January 2023. MoM sales also improved by 14.69 percent from 4,875 units sold in December 2023. Tata offers Nexon EV, Tiago EV, Punch EV and Tigor EV.MG Motors has the ZS EV and Comet EV in its portfolio which has steered the company to post a total of 1,162 unit retail sales. This was a 167.13 percent YoY growth from 435 units sold in January 2023 while MoM retail sales improved by 21.17 percent over 959 units sold in December 2023. Mahindra, which offers XUV400 EV, has also seen an 11.09 percent MoM growth in retail sales to 741 units in the past month from 667 units sold in December 2023. Mahindra now plans launch of the XUV300 EV sometime 2024. It will be positioned below the XUV400 EV in the company lineup and will take on the Nexon EV in its segment.Electric Car Sales Jan 2024 vs Jan 2023 – YoY comparisonOutstanding growth was also reported by Hyundai Motor with its EV retail sales at 162 units, up 38.46 percent YoY and 30.65 percent MoM from 117 units and 124 units sold respectively in January 2023 and December 2023. Hyundai has the IONIQ 5 and Kona Electric in its currently lineup and will soon bring in the Creta EV which is currently on test. BYD sales stood at 150 units in January 2024 with a 7.14 percent YoY growth but 11.76 percent lower sales on a MoM basis over 170 units sold in December 2023. BYD offers Atto3 and e6. Soon they will launch the Seal EV sedan.Electric Car Sales Jan 2024 vs Dec 2023 – MoM comparisonCitroen, which offers eC3, reported 28 units retail sales last month relating to a 42.86 percent MoM de-growth. Kia EV sales saw a 27.08 percent YoY de-growth but an improvement in MoM sales by 16.67 percent to 35 units in January 2024. Kia has the EV6 on sale, with plans to launch Clavis EV and EV9 later this year.Premium / Luxury EV Sales Jan 2024BMW India retail sales of EVs also grew by 15.87 percent YoY but dipped 10.98 percent MoM to 146 units from 164 units sold in December 2023. BMW EV portfolio in India includes iX1, i4, iX and i7. Price ranges from Rs 67 lakh to Rs 2.5 crore. Mercedes has also reported YoY growth of 29.55 percent to 57 percent in January 2024 while its MoM sales dipped 30.49 percent over 82 units sold in December 2023. Mercedes India EV portfolio includes EQB, EQE and EQS with prices ranging from Rs 75 lakh to Rs 2.45 crore.Volvo India also saw its MoM sales fall to 50 units in the past month from 54 units sold in December 2023. Volvo India EV portfolio includes XC40 EV and C40 EV with prices in the range of Rs 58 lakh to Rs 63 lakh. Audi EV sales in India fell by 12.50 percent MoM to 14 units in January 2024. Audi India EVs include e-tron, e-tron GT, RS e-tron GT, Q8 e-tron and Q8 Sportback e-tron with prices ranging from Rs 1 crore to Rs 1.95 crore. Porsche with 8 units sold last month in the EV segment, down 69.23 percent from 26 units sold in December 2023. Porsche EV on offer in India is the Taycan which is priced at Rs 1.61 crore to Rs 2.44 crore. More

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      2024 Renault Kwid EV Revealed With New Front, Rear, Interiors – India Bound?

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      2024 Renault Kwid EV – Dacia Spring in EuropeThe exterior and interior updates with new Dacia Spring will make their way on new Renault Kwid EV as well (marketed as City K-ZE)The electric car segment is seeing a rather slower adoption when compared to electric 2W vehicles. This tasks manufacturers to thoroughly investigate the market before making any significant investments. But should Renault bring in the newly updated Dacia Spring as Kwid EV in India?2024 Renault Kwid EV RevealedRenault India is currently a three-vehicle chariot run by Kiger, Triber and Kwid. Renault has seen its glory days when it used to offer Duster. And the company is keen on rejuvenating its portfolio in India along with alliance partner Nissan. But is a small affordable Renault Kwid EV on the cards? We have seen Kiger EV under testing in India already.2024 Renault Kwid EVWe hope it is because the recently updated Dacia Spring EV is a very tempting proposition. Dacia Spring is a badge-engineered Renault City K-ZE (electric version of Kwid sold in India) and is Dacia’s first-ever electric offering. Depending on the market, Dacia has also sold a Cargo version of it called Dacia Spring Cargo.For 2024, Dacia Spring has been thoroughly redesigned with a more sophisticated overall appeal. Definitely more premium than before. For starters, this is not just a facelift. Instead, Dacia has done major revisions to sheet metal too, while overall car is close to its predecessor underneath.New Renault Kwid EV (Dacia Spring) – RearWe can see a new face with new Dacia logo. Sticking to Dacia family DNA, Spring gets similar styling elements as the new Duster. Interesting LED DRL elements flank the new Dacia logo, round projector headlights are housed below, in its bumpers. Bonnet creases and flared wheel arches lend some muscle to this dinky little car.2024 Renault Kwid EVMajor interior upgradeThere is an interesting white grill element around car’s number plate and the charging socket is on the front behind Dacia logo. Rear gets a black plaque with bold DACIA lettering connecting car’s Y-shaped LED tail lights. Same white grill element is present in the rear too. Rear portion looks fuller now as opposed to its predecessor.On the inside, there is an all-new dashboard following a similar design DNA as new Duster. Gone is Kwid’s boring dashboard and in comes a rather appealing and up-market unit with a free-standing 10.1-inch touchscreen touchscreen infotainment taking centre stage. There are Duster-inspired centre AC vents and a brand new auto climate control panel.New Renault Kwid EV (Dacia Spring) – InteriorsContrasting colours, new textures and elements lend an up-market appeal when compared to current Dacia Spring, Renault City K-ZE or Kwid ICE. ADAS features and driver monitoring are in the house owing to European requirements. Powertrain options include a sole 26.8 kWh battery promising a claimed range of more than 220 km on a single charge.Despite being an EV, new Dacia Spring (new Renault Kwid EV) weighs under a tonne. 984 kg to be precise. There are two motor options – a 45 bhp and a 65 bhp unit driving front wheels. Only the latter is capable of 30 kW DC fast charging while former has to make do with 11 kW AC charging. More

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      New MG Electric Car Launch Around 2024 Festive Season – MD Confirms

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      Baojun Yep Plus – 5 door sub 4m electric SUV based on CometConsidering the prospective vehicles from SAIC Group’s global portfolio, Baojun Yep eSUV under MG brand might be the best bet for IndiaHaving marked its entry into the Indian market with the launch of Hector in 2019, MG Motor has established itself as a prominent player. With a lineup of premium and well-crafted vehicles, MG Motor India has been actively participating in the electric car segment, currently offering ZS EV and Comet. As the festive season approaches, MG is gearing up to introduce its third electric vehicle to the Indian market.Confirmation of MG’s 3rd Electric Car LaunchAgainst the backdrop of a growing economy, Indian consumers are increasingly inclined towards enhancing their car ownership experience. Electric vehicles, offering lively performance and aligning with eco-conscious preferences, have garnered attention. Currently constituting around 2% of all passenger vehicles sold in India, EVs are anticipated to exhibit significant growth in the coming years.MG files design trademark for New Yep Electric SUV in IndiaIndustry speculations suggest that EV sales may account for approximately 15% to 20% of the market by the end of the decade. Recognizing this trend, many Indian original equipment manufacturers (OEMs) are gearing up to introduce new vehicles, particularly electric ones, across various segments. MG Motor is no exception.Rajeev Chaba, MD of MG Motor India, has officially confirmed that the company is set to launch a new electric car later this year. This marks a significant stride for MG Motor in its expansion efforts in India, potentially being the first vehicle under MG branding following the strategic joint venture between SAIC Motor (parent company of MG Motor) and JSW Group led by Sajjan Jindal.MG Yep SUV interiorPresently, EVs contribute to 25% of MG Motor India’s sales volumes. The upcoming electric vehicle launch is expected to further boost this share. MG aims to leverage its manufacturing capabilities, pricing strategies, and overall product expertise for this new electric offering.MG Comet based Yep electric SUVThere are indications of a potential increase in production capacity at MG’s Halol plant in Gujarat. With around 60,000 vehicles sold in India last year, the production capacity is projected to expand to 80,000 to 90,000 units in 2024. The infusion of capital from JSW Group, holding a 35% stake, is expected to provide MG with the necessary impetus to expand its operations in India.What to Expect?MG Motor India is set to double its portfolio by the end of 2025, with a new electric vehicle slated for launch during the festive season of 2024. Considering the showcase at the 2023 Auto Expo, potential vehicles for launch this year include the MG4 electric hatchback, MG5 electric estate car, or Mifa 9 electric MPV.Given India’s electric vehicle purchasing trends and preferences, there is a strong possibility of MG launching the Baojun Yep eSUV in India. Based on the Wuling Air EV, introduced in India as the Comet, its attractive design and relatively affordable price tag could prove to be a winning formula for MG Motor India.Source More

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      Maruti Poolkar, Charge Hub, Smart Charge – Names Registered Ahead Of Their Electric Car Launch

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      Maruti EVX Electric SUV Render by Motor ESRecent names registered by Maruti Suzuki provide a glimpse of the company’s EV strategy and plans for new businessesIndia’s largest carmaker, Maruti Suzuki is making plans to ensure its dominance in the coming years. Electrification will be among the key focus areas, with at least 6 new EVs targeted by the end of this decade. The company can also explore entirely new segments such as car pool services.Maruti Poolkar – Car pool service?The ‘Maruti Suzuki Poolkar’ word mark is likely to be used for a car pool service. Maruti could start the service in collaboration with a technology partner. Car pool services are already available across major cities. However, most of these are operated by startups. The Maruti brand name is expected to bring greater efficiency and reliability in operations. The sense of trust and confidence among users will be more in case of a renowned brand like Maruti.Maruti Suzuki Poolkar – New pool car service?Maruti EV charging stationsTwo other names have been registered, Maruti Suzuki Smart Charge and Maruti Suzuki Charge Hub. The Smart Charge could be standalone charging points that could be installed at various locations such as retail shops or roadside parking areas. The Charge Hub could have two or more charging points at the same location. These could be installed at locations such as shopping malls, offices, highway rest areas and various other public places.Users could have the option to choose a subscription plan or use the charging station on an hourly basis. It remains to be seen if the charging stations will cater exclusively to Maruti EVs or allow charging of other cars as well. Hyundai has already started their network of charging stations in India. Recently they announced that they are the only OEM in India to have 11 Ultra-Fast public charging stations in the country.Maruti Suzuki Smart Charge – Name for EV charging station?Maruti is likely to expand its charging network in a phased manner. The first Maruti electric car is eVX, expected to be launched later this year. It is based on a born-electric platform. Toyota is expected to launch its own version, based on the Urban Crossover Concept.Maruti Suzuki Charge Hub – Name for EV charging station?Maruti to step-up focus on EVsUpcoming Maruti eVX will take on rivals such as the upcoming Tata Curvv EV and Hyundai Creta EV. Apart from eVX, Maruti is also working on other electric cars. One of these will be an entry-level electric hatchback, based on the eWX Concept unveiled at Japan Mobility Show. Another model under development is a new Maruti electric MPV, based on the eVX platform. It is internally codenamed YMC.Maruti is aiming for around 5 lakh EV sales by end of FY2031. EV production capacity is being augmented with a fourth production line under development at Suzuki Motor Gujarat (SMG) plant. The new production line will cater exclusively to EV manufacturing. It has capacity to produce 2.5 lakh EVs per annum. Funds worth Rs 3,200 crore have been allocated for the project.Along with EVs, Maruti is also manufacturing battery cells, battery packs and modules. These are meant for both domestic and export markets. In the current financial year, Maruti is looking to generate revenue of around Rs 750 crore through export of such EV components. Export locations currently include Japan and European countries. More

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      VW MEB to Fuel Mahindra’s INGLO Platform – First E-SUV Launch Dec 2024

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      New Mahindra BE05 Electric SUV CoupeVolkswagen and Mahindra Charge Ahead in E-Mobility Partnership – Mahindra’s INGLO Platform to Roll Out Electric SUVs from December 2024In a landmark move towards sustainable electric mobility, Volkswagen Group and Mahindra & Mahindra Ltd. (M&M) have inked a groundbreaking supply agreement. The agreement solidifies Mahindra’s commitment to equip a specific range of its electric platform, INGLO, with components from Volkswagen’s Modular Electrification Toolkit (MEB) and unified cells.Sourcing 50 GWh Battery From VolkswagenThis strategic collaboration marks a pivotal step forward in the joint vision for e-mobility between the two automotive giants. The comprehensive deal encompasses the supply of crucial electric components and unified cells, demonstrating the depth of commitment to advancing electric vehicle (EV) technology.Mahindra INGLO PlatformThese electric components from Volkswagen’s MEB platform will populate Mahindra’s Born Electric INGLO platform. The agreement covers both supply of certain components and Volkswagen’s unified cells from MEB platform. What started as a partnering agreement and a term sheet in 2022 between Mahindra & Mahindra Ltd and Volkswagen Group, has now evolved into an active collaboration that could show expansion in the future.Both companies have agreed to run the supply agreement for years to follow. The total energy capacity sourced from VW over the years might account for as much as 50 GWh. This may accelerate India’s electric mobility adoption and will benefit both companies along the way.Mahindra Electric SUVs Doing 200 KmphAs of now, only Volkswagen Group brands like Volkswagen, Audi, Skoda and SEAT/CUPRA use Volkswagen’s MEB platform. These are Volkswagen’s internal brands. Mahindra is set to be the first external partner to use ground-breaking unified cells technology from Volkswagen. Other external partner in the race to source MEB components is Ford.Mahindra INGLO SUVs Launch Timeline OutMahindra has revealed it will launch five all-electric SUVs based on INGLO platform. These are BE.05, BE.07, BE.09, XUV.e8 and XUV.e9. The press release also mentioned these INGLO platform-equipped e-SUVs will launch starting from December 2024. The first INGLO platform-equipped vehicle to launch is highly likely to be XUV.e8, which has been spotted testing on multiple occasions.At Mahindra’s Future Scape event held in Johannesburg, South Africa, the company presentations demonstrated INGLO platform populated with BYD’s Blade cells. Where “Platform Business” is concerned, BYD’s Blade cells are a primary rival for Volkswagen’s MEB unified cells.Mahindra is likely to be collaborating with different battery vendors depending upon the target market owing to availability, supply and market acceptance. After all, Mahindra has announced that the INGLO based vehicles will be a key stepping point in expanding the brand’s presence in international business, touching more lives globally. More

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      Tesla Plays Hardball, May Prompt Reduction In Import Duty Ahead Of Launch

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      Image for illustration onlyWhile the 100% import duty for cars encourages local manufacturing, newer policies may adopt a more flexible approach towards EV importsLast year, India had emerged as the world’s third largest auto market, after China and the US. The Indian automotive space has huge unlocked potential, especially in the EV segment. Tesla is looking at opportunities in India, but has strongly opposed the high import duty taxation regime.Possibility of reduced 15% import duty for EVsTalks between Tesla and the government have been going on for several months. While the company is willing to invest around USD 2 billion in India, it wants concessions on the import duty. The current tax structure of 100% import duty for cars valued over USD 40,000 (approx. Rs 33 lakh) is way too high, according to Tesla. For cars below USD 40,000, the import duty is 60%.File photo from 2023. Elon Musk and Narendra ModiTesla wants to use the CBU route, at least for the initial period. Tesla has been negotiating that import duty be reduced to 15%. While the government has also taken a tough stand, it appears that a more flexible import policy for EVs could be announced soon. As per ET Auto report, the new policy will allow reduced import duty on the condition that the OEM commits investments for setting up local manufacturing.To safeguard its interest, the government is likely to ask for bank guarantees from the OEM. The relaxation in import duty will be valid for a period of 2-3 years. If the OEM fails to provide investment for local manufacturing after the relaxation period, the government will have the option to encash the bank guarantees. The exact amount of bank guarantees is yet to be finalized. Bank guarantees will ensure that only OEMs that are serious about long-term presence in India get the benefits of reduced import duties.Other global brands can also benefitWhile Tesla may be credited for nudging policymakers to adopt a more flexible approach, other leading global automotive brands can also benefit. A recent example is Ford that seems to be planning a re-entry in India. Ford had recently trademarked Mustang Mach-E electric compact crossover SUV in India. Just like Tesla, Ford may also benefit from the new taxation policy being drafted for EV imports.Bad news for local OEMs?As the full details of the new EV import policy is not available, it is difficult to determine the impact on homegrown automakers. The new policy is likely to have adequate provisions to ensure that locally manufactured EVs continue to offer more value to consumers. The Indian auto industry will be looking at a level-playing field and not a system that provides an unfair advantage to carmakers like Tesla.Companies like Mahindra and Tata Motors have made massive investments to boost their EV business. The new EV policy should incentivize local manufacturing, which will bring investments, create jobs and increase technical know-how. More clarity will emerge when one gets to read the details of the upcoming EV import policy.Source More