As per the Indian government’s latest policy, electric vehicle OEMs must commit a minimum investment of USD 500 million (approx. Rs 4,150 crore) towards operationalising local manufacturing facilities within three years.
The two Japanese car companies have decided to team up as both believe it is ‘necessary’ to ‘combine their strengths’ and explore possibilities of future collaboration, specifically on the electric vehicle front.
The amended regulations also include the introduction of an Environmental Vehicle Passport, aimed at providing detailed information on a vehicle's environmental performance
After a relatively quiet 2023, MG Motor India is gearing up for two launches in 2024, one of which will be an electric vehicle; company to reveal future plans on March 20.
The Tata Motors Group has signed a memorandum of understanding with the Government of Tamil Nadu to explore the prospect of establishing a vehicle production facility in the state.
