India's protectionist instincts have kept out international auto companies for decades. It now needs its own holistic model that touches on auto parts & consumer incentives for EVs.
Tesla is seeking to make inroads into India, where EVs account for less than 1% of annual car sales. It had last month requested Modi govt to cut import duty on electric cars.
The Hongguang Mini is the brainchild of SAIC-GM-Wuling Automobile Co., a joint venture between two Chinese state-backed automakers, and American automotive giant General Motors Co.
CEO Elon Musk had all but confirmed Tesla would enter India in January after months of speculation. Now, the electric vehicles maker is recruiting for its sales, marketing & HR depts.
Vikram Handa set up India’s first manufacturer of lithium-ion battery parts Epsilon Advanced Materials Pvt in August, sourcing raw material from the country's largest steel mill.
An essential element of the climate potential of electric vehicles is that they’re eventually able to switch to lower-carbon fuels — a slow process in India and China.
A bill to ban private cryptocurrency will soon be sent for cabinet approval. However, it will also enable the issuance of a digital currency by the RBI.
India still hasn’t rolled out the welcome mat for EVs, unlike China, where Tesla set up its first factory outside of the US and now dominates electric-car sales.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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