Tata, Mahindra driving EV surge in India. Will global giants plug in?
Given the limited car choices for Indian consumers, will this rise attract foreign carmakers like Tesla? If so, will that be more beneficial for customers, or a bigger threat to domestic carmakers, or both?Speaking to India Today, FADA President CS Vigneshwar said the group welcomes the entry of leading global EV original equipment manufacturers like Tesla as a 'critical catalyst for expanding consumer choice and elevating technology benchmarks within India's rapidly electrifying passenger-vehicle market'.advertisementHe added that any new entrant seeking sustainable success must adopt an India-centric strategy: invest in local research and development, manufacturing, and supply-chain ecosystems; understand price-sensitive Indian consumers; and align product portfolios with the real-world needs of the country's diverse markets.MAKE IN INDIAUnder the new EV policy aimed at promoting Make in India, foreign carmakers will have to establish local production units to benefit from India's import subsidy regime, without which, they will incur a 70 per cent customs duty.Meanwhile, global companies like Mercedes-Benz and Volkswagen have shown interest in the Indian EV market and are exploring possibilities under the new scheme to invest in local production. Tesla, which was in talks about setting up production in India, is now only looking to expand showrooms.Must Watch
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Geopolitical tensions, regulatory issues led to over 5,700 flight cancellations for major Indian airlines in January-June
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Foreign liabilities of MFs rose 19.9% to $30.5 bn in 2024-25: RBI survey
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