The company has initiated a feasibility study for fuel cell electric vehicles in the country and promises to being a solution with zero emissions, he added. Fuel cell electric vehicles are free from all kind of green house gas emissions. Earlier this year, Hyundai had launched fully-electric SUV Kona in the country.
Maruti Suzuki, Mahindra & Mahindra, Ford, Toyota, Mercedes Benz and Audi plan to raise the prices from January 2020. The carmakers told ET that the price hike has been planned to counter the inflationary pressures. The country’s largest carmaker Maruti Suzuki said the production cost has shot up because of increase in raw material prices.
Demand for diesel cars is expected to taper off further going ahead owing to various reasons.
EBIT (earnings before interest and tax) margin for the division stood at19.5 per cent in the first half of the fiscal year.
MD Naveen Munjal told ET that although sales of electric two-wheelers were subdued in the first half of this financial year, the company expects demand to pick up substantially in the coming years as legacy players such as Bajaj Auto enter the segment.
Toyota is looking at stopping sale of small diesel vehicles post the transition to BS VI emissions standards.
Huge discounts and extended warranty have attracted consumers looking for value buys.
MG Motor India will bring in an affordable electric vehicle in three to four years as it looks to gain leadership in the country’s EV market space.
MG India’s association with the acclaimed British actor also builds from the shared values and beliefs where both endorse community-led causes like diversity. The British actor has been known for promoting gender equality and ‘diversity across the board’ within the global entertainment industry.
“With BS-VI coming in and small diesel vehicles going out of favour, Toyota may look at introducing CNG vehicles in India,” said a top industry official aware of the plans. “Suzuki already sells CNG vehicles in the country and it could be the basis of discussion between the partners in the future.”
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