Tata Motors, which has reporting healthy growth numbers with the lunch of new models, wants to become an option for every prospective car buyer in India.
The company is likely to launch an electric version of the Kwid small car in the next couple of years, people in the know of the plans said.
Japan’s largest carmaker Toyota Motor Corporation also plans to electrify 80% of its portfolio by 2022, the person said
Uniti is the fourth international automotive brand that has announced plans to enter India by the turn of the decade.
Sales of medium and heavy commercial vehicles set to surpass 2011-12 peak of 245,000 units.
These products will be relevant to India, with a majority of them being positioned in the affordable segment.
In the Budget, Jaitley has increased custom duty on CKD (completely knocked down) imports of motor vehicles, motor cars, motor cycles from 10 per cent to 15 per cent.
Homegrown auto majors Mahindra & Mahindra (M&M) too fared well. While volumes went up by 17% to 23686 units at Mahindra, Tata Motors’ sales shot up by a strong 55% to 20055 units
The basic custom duty for completely knocked down imports of motor vehicle, motor cars and motorcycles has gone up from 10% to 15%.
Auto exhibitions are evolving as platforms for growing engagement between startups working on disruptive technologies and established vehicle companies that are eager to make use of those.
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