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Mahindra calls for EV level playing field amid Tesla's India entry plans

Reuters · 1y ago

Mahindra calls for EV level playing field amid Tesla's India entry plans

Indian automaker Mahindra & Mahindra has urged the government for a level playing field between domestic and foreign players in the electric vehicle (EV) market. They emphasize the promotion of local manufacturing as India plans to attract Tesla and other global carmakers. Mahindra, along with Tata Motors, have privately requested not to reduce import taxes on EVs to protect domestic firms and their foreign investors. Indian EV sales experienced significant growth in 2021, with Mahindra expressing their commitment to listing their EV unit in the future.

Related News

India prepares for Musk's arrival: Space and EV industry expected to boost

Livemint

Livemint · 1y ago

India prepares for Musk's arrival: Space and EV industry expected to boost

Tesla CEO Elon Musk's visit to India has garnered praise from Lt. Gen. AK Bhatt (Retd.), Director General of the Indian Space Association. Lt. Gen. Bhatt commended Musk for his contributions to disruptive technologies, particularly in the space exploration field. While Musk's visit primarily focuses on Tesla and electric vehicles, Lt. Gen. Bhatt emphasized the potential for domestic manufacturing, job creation, and the introduction of advanced automotive technology in India. Stakeholders anticipate the bolstering of India's EV ecosystem and the advancement of sustainable mobility solutions with Tesla's potential entry into the Indian market. A government official suggests that Musk may announce Tesla's entry into India after meeting with Prime Minister Narendra Modi on April 22.

Former Tesla CEO says it is a 'shame' company is cancelling low-cost car plans

Economic Times

Economic Times · 1y ago

Former Tesla CEO says it is a 'shame' company is cancelling low-cost car plans

Former Tesla CEO, Martin Eberhard, expressed disappointment at Tesla's decision to scrap its plans for a low-cost car amid stiff competition in China. The company had previously aimed to manufacture affordable electric vehicles for the mass market. While Tesla's cheapest car currently retails for around $39,000, the now-cancelled entry-level vehicle was expected to start at $25,000. Although the low-cost car has been abandoned, Tesla is reportedly still focusing on developing self-driving robotaxis using the same small-vehicle platform.

Walmart seeks fair play in global game, says CEO

Economic Times

Economic Times · 2m ago

Walmart seeks fair play in global game, says CEO

Walmart CEO Doug McMillon emphasized the importance of a level playing field and consistent policies across countries for the company. Amid ongoing trade negotiations between the U.S. and India, McMillon stated that Walmart aims to comply with local rules, likes buying locally, and welcomes potential changes allowing inventory holding in India. Walmart focuses on maintaining low prices and sourcing locally to manage tariffs and provide value to customers.

EV firms unanimous that subsidy will not be needed after existing regime ends: Goyal

YourStory

YourStory · 7m ago

EV firms unanimous that subsidy will not be needed after existing regime ends: Goyal

Electric vehicle (EV) companies no longer need subsidies after the current regime ends, according to Commerce and Industry Minister Piyush Goyal. Following a meeting with stakeholders, it was revealed that the EV industry, expected to grow significantly by 2030, seeks a level-playing field. The government has introduced policies to boost EV infrastructure, including charging stations, but companies are encouraged to make independent business decisions and self-regulate under proposed guidelines.

US to demand full market access for Amazon, Walmart's Flipkart in trade talks with India: FT report

Economic Times

Economic Times · 4m ago

US to demand full market access for Amazon, Walmart's Flipkart in trade talks with India: FT report

The United States is seeking full market access for Amazon and Walmart in India's ecommerce sector as part of bilateral trade negotiations. The discussions, linked to reciprocal tariffs, aim to ensure a level playing field for US ecommerce entities. Currently, India's policies permit foreign companies to operate only as marketplaces. The talks unfold amid a $125 billion market competition, US-India agreement outlines, and a significant trade deficit, with US efforts to bridge their trade gap.

Tata Motors opposes tax cut on EV import amid Tesla’s India foray plans

Inc42 · 1y ago

Tata Motors opposes tax cut on EV import amid Tesla’s India foray plans

Tata Motors is opposing a proposal to lower import taxes on electric vehicles (EVs) in India, as the government considers Tesla's plan to enter the market. Tata argues that its investors made decisions assuming the existing tax regime, which supports local entities, would remain unchanged. The company emphasizes the need for government support during the early stages of India's EV industry growth. India is contemplating tax reductions on imported fully assembled EVs for up to five years to attract companies like Tesla. Local automaker Mahindra & Mahindra has also raised concerns about the EV tax plan.

Tesla Pulls Into India

Inc42 · 1y ago

Tesla Pulls Into India

Tesla is set to make its long-awaited entry into the Indian market this year, signaling a new phase of growth for the country's electric vehicle (EV) industry. Reports suggest that Tesla is preparing for its first major shipment to India and is also exploring options for setting up a manufacturing plant in the country. The move comes after the Indian government approved a new EV policy, which includes lowering import duties for EV manufacturers and setting localisation targets. Tesla's entry is expected to accelerate the growth of the Indian EV market, which has so far been dominated by two-wheelers and three-wheelers.

Tesla risks losing its lead without an inexpensive EV

TechCrunch · 1y ago

Tesla risks losing its lead without an inexpensive EV

Elon Musk's decision to prioritize a robotaxi over an affordable electric vehicle (EV) could potentially harm Tesla's leading position in the market. Musk recently halted plans for a low-cost EV, which could have significantly expanded the company's market share and defended against competition from cheap Chinese EVs. Instead, Musk is focused on developing autonomous driving technology for a robotaxi, despite Tesla's current self-driving capabilities being limited to Level 2. This decision raises concerns about whether Tesla can deliver a groundbreaking product in the near future, potentially jeopardizing its position in the industry.

Anand Mahindra reveals how he will handle competition from Elon Musk’s TESLA | Company Business News

Livemint

Livemint · 6m ago

Anand Mahindra reveals how he will handle competition from Elon Musk’s TESLA | Company Business News

Anand Mahindra, Chairman of Mahindra and Mahindra Group, addressed competition concerns from Tesla, led by Elon Musk, via a social media post. Reflecting on similar questions since India’s economy opened in 1991, he expressed confidence in his company’s resilience and ongoing relevance. Responding to inquiries on whether Indian companies could withstand Tesla's potential market entry, Mahindra emphasized the importance of healthy competition and public support in sustaining brand success in evolving markets.

Jio Urges TRAI To Revise Paper On Satcom Spectrum Allocation

Inc42 · 10m ago

Jio Urges TRAI To Revise Paper On Satcom Spectrum Allocation

- Jio criticizes a consultation paper for not ensuring a level-playing field between satellite and terrestrial services. - Jio argues that the consultation paper's lack of addressing competitive fairness could lead to legal challenges for any subsequent recommendations. - TRAI recently initiated a consultation process to examine the pricing and allocation of spectrum to satellite communication (satcom) companies. - Jio's opposition to the consultation paper's current state highlights concerns about fairness and legal vulnerabilities. - The criticism from Jio comes amid ongoing discussions and developments in the telecom and satcom sectors.

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