The beauty of our business is that it is managed only by Indians.
As against the previous plan of investing Rs 15000 crore over a three year period, Mahindra will now be investing Rs 18000 crore.
In an interview with ET, Bansal said Ather has plans to sell over a million units annually in the next five years and reckons the company has the potential to lead the EV two-wheeler space.
Sachin Bansal, Flipkart co-founder and a board in Ather Energy said, the traditional auto industry is up for a redefinition.
If the companies manage to reach an agreement, the combined entity is poised to become the world’s third-largest automaker.
Tata Motors currently has a market share of 40.1 per cent in the SCV and pick-up segment. The company has already sold over 20 lakh units of Tata Ace till date.
Crisis in the NBFCs that finance more than half of new truck sales has affected the sector.
Royal Enfield (RE) has denied the charge, saying the intellectual property rights to the technology are owned by its supplier.
The positive edge to profits also underscores sustained domestic demand.
Robotic tractors, mining equipment and specialised non-road vehicles are expected to debut in India far sooner than self-driving cars.
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