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New EV Policy To Give Imported Cars Advantage Over Indian Vehicles, Says HSBC

HSBC highlighted the recent correction in passenger vehicle stock prices, notably Mahindra & Mahindra Ltd., reflecting market anxieties about this policy.

<div class="paragraphs"><p>HSBC argues that the $500 million investment requirement is relatively modest compared to domestic companies' capital expenditure. (Representational image. Photo source: Pixabay)</p></div>
HSBC argues that the $500 million investment requirement is relatively modest compared to domestic companies' capital expenditure. (Representational image. Photo source: Pixabay)
The proposed changes to India's electric vehicle policy that allow for concessional import duty of 15% on electric cars will create an unfair advantage for imported EVs, compared to domestically produced vehicles, according to HSBC.The government may soon modify the terms of a policy that promotes manufacturing of electric cars in India, in a bid to attract the likes of Tesla Inc., to make and sell in the world’s third largest automo...
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